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.
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