Bloomberg News

Mercuria Energy Said to Propose Terms on $480 Million Loan

September 14, 2011

Sept. 14 (Bloomberg) -- Mercuria Energy Trading SA, a Geneva-based oil trader, set preliminary terms on a $480 million loan, two people with direct knowledge of the deal said.

The three-year portion of the financing pays an all-in fee of 277 basis points more than the London interbank offered rate for participants in the largest ticket offered in general syndication, while the one-year portion pays 220 basis points to the biggest participants, said the people, who didn’t want to be identified because terms are private.

Top-ticket participants must commit a minimum of $35 million, with at least $5 million of that commitment in the three-year tranche, the people said.

The three-year tranche is for $160 million and the one-year portion is for $320 million, the people said.

BNP Paribas SA, DBS Group Holdings Ltd., HSBC Holdings Plc, Industrial & Commercial Bank of China, ING Groep NV, Societe Generale SA, Standard Chartered Plc and Sumitomo Mitsui Banking Corp., according to data compiled by Bloomberg.

--Editors: Cecile Gutscher, Andrew Reierson

To contact the reporter on this story: Wendy Mock in Hong Kong at wmock3@bloomberg.net

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net


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