Mercuria entities close $1.9 billion one-year borrowing base revolver

By Sarah Lizee

Olympia, Wash., Nov. 20 – Mercuria's North American operating entities closed a $1.9 billion one-year senior secured borrowing base revolving credit facility, according to a notice.

Mercuria increased the size of the facility by $200 million.

The joint and several borrowers are Mercuria Energy Trading, Inc., Mercuria Energy America, Inc., Minerva Bunkering (USA) LLC and Mercuria Commodities Canada Corp.

Societe Generale, MUFG Bank Ltd., Natixis, New York Branch, ABN Amro Capital USA LLC and ING Capital LLC were joint lead arrangers for the facility.

Societe Generale acted as coordinator, facility agent and collateral agent while MUFG, Natixis, ABN Amro Capital and ING acted as co-syndication agents. Credit Agricole, Cooperatieve Rabobank UA, New York Branch and Mizuho Bank, Ltd. joined the facility as co-documentation agents.

Mercuria said the facility was heavily over-subscribed with the company choosing to scale back lender commitments.

The facility will be used for financing the company's working capital needs in respect of its North American inventory and receivables.

Mercuria is a Geneva-based commodity trading company active in a wide spectrum of global energy markets.

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