MEDIA RELEASE PR38044
Mercuria Energy Trading Pte Ltd (the "Company") USD281 Million Syndicated Revolving Credit Facility
(the "Facility")
SINGAPORE, Jan. 27 / PRNewswire-AsiaNet/ --
Fourteen international banks lent overwhelming support to the
maiden Asian syndicated facility for Mercuria Energy Trading Pte Ltd. The
facility, which was launched at USD150 Million, closed oversubscribed with
the final facility amount being upsized to USD281 Million.
The Company mandated BNP Paribas, ING Bank N.V., Societe Generale
Corporate & Investment Banking and Standard Chartered Bank (each a "Mandated
Lead Arranger and Bookrunner" or "MLAB" and together the "MLABs") for this
transaction. Proceeds of the Facility will be utilised to finance the working
capital requirements of the Company for its core activities. The revolving
credit facility has a tenor of one year, and carries an interest rate of
1.50% per annum over LIBOR.
"We are very pleased to have such a positive response from our banking
partners in Asia. We are building our presence in the region and this
Revolving Credit Facility confirms the significance of our Asian business as
well as the strength and importance of the Mercuria Singapore presence" says
Mr Jin Han, Director Mercuria Asia.
The ten other participating banks in the transaction include: China
Minsheng Banking Corp., Ltd, ICBC (London) Limited, Bank of Ayudhya, Europe
Arab Bank plc, Chinatrust Commercial Bank Co., Ltd, Singapore Branch, Indian
Bank, Singapore Branch, Raiffeisen Zentralbank Osterreich AG, Singapore
Branch, Mega International Commercial Bank Co., Ltd., Offshore Banking
Branch, PT Bank Mandiri (Persero) Tbk, Singapore Branch and Union de Banques
Arabes et Francaises (UBAF).
Mercuria Energy Trading Pte Ltd, a wholly owned Singapore subsidiary
(incorporated in 2004) of Mercuria Energy Group Ltd focuses on global trading
of crude oil and refined oil products. Currently Mercuria has offices in
Singapore, Beijing (China), Dubai (Emirates) and New Delhi (India). The
Company is in the progress of setting up a representation office in Jakarta
(Indonesia) and has entered into a joint venture arrangement with a local
marketing company in Bangkok (Thailand).
Mercuria Group is an international group of
companies active over a wide spectrum of global energy markets including
crude oil and refined products, biodiesel and vegetable oil, natural gas,
power, coal derivatives and carbon emissions. Diversified and rapidly
growing, the Group currently trades oil and petroleum products in all main
markets worldwide. In total nearly 82 million tonnes of physical oil and
products were sold by the Group in 2008 versus nearly 61 million tonnes in
2007.
For more information about the Facility, kindly contact the following
persons:
From Mercuria Energy Trading Pte Ltd
Ms Jennifer Chan
Chief Financial Officer, Asia Pacific
Tel: +65-6416-2700
From ING Bank N.V.
Mr Tibor Papp
Head of Syndicated Finance, Asia Pacific
Tel: +65-6232-6265
From BNP Paribas
Mr Flavian Sim
Loan Syndication, South East Asia & India
Tel: +65-6210-1384
From Societe Generale Corporate & Investment Banking
Mr Jose Antonio Olano
Head of Loan Syndication and Distribution, Asia Pacific
Tel: +852-2166-5614
From Standard Chartered Bank
Ms Velarie Lee
Syndications - South East Asia
Tel: +65-6228-3446
SOURCE: Mercuria Energy Group
NEWS 
