Commodities in demand as Mercuria upsizes
Mercuria Energy, a Singaporean subsidiary of the Swiss commodities trader, will increase a two tranche revolver to $500m after attracting commitments from 18 banks in syndication — highlighting the depth of appetite for this sector in Asia.
Mercuria had initially targeted $330m but will increase the loan after securing commitments from 18 banks — in addition to the six mandated lead arrangers — in excess of $500m.
“Asian banks have been really interested in the commodities houses this year,” said a banker away from the deal.
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