Mercuria‘s North American operating entities closed a multi-year, $3.4 billion senior secured borrowing base credit facility. The facility was over-subscribed, enabling Mercuria to increase the size by $100 million. The joint and several borrowers are Mercuria Energy America, Minerva Bunkering and Mercuria Commodities Canada Corporation.

Société Générale, MUFG Bank, Natixis, Coöperatieve Rabobank and ING Capital were joint lead arrangers and joint book-runners for the facility. Société Générale acted as administrative agent and collateral agent, while MUFG Bank, Natixis, Coöperatieve Rabobank and ING Capital acted as co-syndication agents. Sumitomo Mitsui Banking Corporation acted as joint lead arranger and co-syndication agent. Credit Agricole, Mizuho Bank and UniCredit Bank AG are participating as co-documentation agents. An additional twelve banks participated at various commitment levels.

Over the past year, the facility was increased via accordion and amendment by $1.1 billion to $3.3 billion. The facility will finance the company’s working capital needs related to its North American operations.

“This year, we have seen substantial growth in our North American business, and through this period, we have seen strong support from our bank group. This has also been a year where we expanded on our syndicate,” Marty Bredehoft, treasurer for the Americas at Mercuria, said.

“We are pleased to have another successful syndication of our North American facility,” Guillaume Vermersch, group CFO at Mercuria, said. “This is a testament to our enduring performance and our long-term relationship with our banking partners. We look forward to expanding on our existing banking relationships over the upcoming year as we continue to build on our North American business.”