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(Updates with amount of commitments in second paragraph.)
Oct. 21 (Bloomberg) -- Mercuria Energy Trading SA, a Geneva-based oil trader, has received at least five commitments in general syndication to potentially increase its $480 million loan, said a person familiar with the matter.
Those commitments total more than $50 million, a second person with direct knowledge of the deal said. Both people declined to be identified because the details are private.
The lending was fully subscribed by the arranging group of eight banks prior to its being marketed to other lenders, a person familiar with the matter said earlier this month. 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. arranged the loan and are so-called bookrunners, according to data compiled by Bloomberg.
Banks were invited to join the loan in general syndication on Sept. 12. The loan is expected to be increased from the initial $480 million target, one of the people said today.
Mercuria’s borrowing comprises a three-year tranche of $160 million and a one-year portion of $320 million, according to data compiled by Bloomberg.
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