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SOURCE Mercuria Energy Group
GENEVA, June 25, 2014 /PRNewswire/ --
Mercuria Energy Group is pleased to announce the successful signing on 20th June 2014 of a USD 2.65 billion revolving credit Facility for its subsidiary Mercuria Energy Trading S.A
This new Facility was massively oversubscribed, circa 60% above the initial launch amount and subsequently increased to USD 2,650,000,000 in aggregate (USD 2,055,000,000 364-day and USD 595,000,000 3-year), following strong demand from the market. It will be used for general corporate purposes and to refinance the Company's maturing USD 1,350,000,000 364-day and USD 450,000,000 3-year revolving credit facilities dated 1st July 2013.
Guillaume Vermersch, Group CFO for the Company, commented: "This is a terrific outcome and a strong vote of confidence from the market. Mercuria is consistently executing a strategy of controlled growth in its selected markets and locations. These additional resources made available to the Company provide a strong platform for the integration of the J.P. Morgan commodity business and position the Group to seize future opportunities as they arise."
Mercuria is one of the world's largest independent energy and commodity groups. With a 2013 turnover of USD 112 billion, the Group, primarily focused on energy, is present all along the commodity value chain with activities forming a balanced combination of commodity flows, strategic assets, structured finance and equity participations. 1000+ Mercuria people are operating from 38 offices worldwide to sustain the group extensive business reach with their market knowledge, diversity and experience.
Mercuria's expertise covers all segments of the energy market, including associated environmental products, and extends to iron ore, dry-bulk freight, base metals and petrochemicals.
The Group also invests in upstream oil, gas and coal mining assets around the world. These investments underpin our growing presence as a major player in the global market.
The Group maintains sound infrastructure capabilities, including oil petroleum products storage terminals and production assets. Our logistics, storage and blending facilities enable us to deliver a wide range of products on time and anywhere in the world.
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