November 29, 2018 / 7:42 AM / 11 days ago

BRIEF-Mercuria Closes $1.35 Bln Facility In Financing For Its Asian Business

Nov 29 (Reuters) - MERCURIA ENERGY GROUP LTD:

* CLOSES REVOLVING CREDIT FACILITY OF $1.35 BILLION IN FINANCING FOR ITS ASIAN BUSINESS

* THE FACILITIES OF $1.35 BILLION INCLUDE A ONE-YEAR FACILITY (WITH AN OFFSHORE CHINESE RENMINBI OPTION), A ONE-YEAR SWINGLINE FACILITY AND A THREE-YEAR REVOLVING CREDIT FACILITY

* ALL THREE FACILITIES ARE REVOLVING IN NATURE AND WERE ISSUED BY MERCURIA ENERGY TRADING PTE. LTD. AND MERCURIA ASIA GROUP HOLDINGS PTE. LTD

* THE FACILITIES WERE JOINED BY A GROUP OF 36 BANKS

* NEW FACILITIES WERE LAUNCHED ON 14 SEPTEMBER 2018 WITH BANK MEETINGS HELD IN TAIPEI, DUBAI, ABU DHABI, SHANGHAI, AND SINGAPORE

* NEW RCF WAS OVERSUBSCRIBED BY MORE THAN 50 PERCENT ABOVE THE INITIAL LAUNCH AMOUNT; THE FACILITY WAS UPSIZED AFTER SUBSTANTIAL SCALE BACK

* SAYS MERCURIA WILL USE THE FACILITIES TO REFINANCE THE GROUP’S MATURING SYNDICATED REVOLVING CREDIT FACILITIES, AS WELL AS FOR GENERAL CORPORATE AND WORKING CAPITAL PURPOSES

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