Sumitomo Mitsui Banking Corporation Archives

SMBC Increases Hercules Capital’s Letter of Credit Facility to $175MM

Hercules Capital increased its committed letter of credit facility with Sumitomo Mitsui Banking Corporation by $75 million for a total of $175 million in credit capacity, subject to borrowing base, leverage and other restrictions.

March 23, 2023 Hercules Capital | Seth Meyer | Sumitomo Mitsui Banking Corporation Phil Neuffer

Excelerate Energy Amends and Restates $600MM Senior Secured Credit Facility with Syndicate

Excelerate Energy entered into an amended and restated senior secured credit agreement. Proceeds from the term loan facility are intended to be used for the acquisition of the FSRU Sequoia, which is currently under a bare boat charter with a third party until mid-2025.

Syndicate of Lenders Close Oversubscribed $3.4B Revolving Credit Facility with Mercuria

Mercuria’s North American operating entities closed its $3.4 billion multi-year senior secured borrowing base credit facility. The facility was over-subscribed, enabling Mercuria to increase the size by $100 million.

Scotiabank Leads $2B Multi-Facility Transaction

Phoenix Tower International amended and restated its senior credit facilities to consolidate and expand them into a single $2 billion senior secured multi facility transaction covering all of North and South America.

Marathon Capital and SMBC Form Strategic Partnership

Marathon Capital entered into a strategic collaboration agreement with Sumitomo Mitsui Banking Corporation. The parties also have entered into an agreement for a minority equity investment in Marathon Capital. The proceeds will be used to accelerate the firm’s growth and expansion.

June 30, 2022 Hiro Otsuka | Marathon Capital | SMBC | Sumitomo Mitsui Banking Corporation | Ted Brandt Rita Garwood

Bank of America Leads Syndicate Providing Lucid with $1B Revolving Credit Facility

Lucid Group entered into a credit agreement on June 9 with a syndicate of banks providing a secured asset-based revolving credit facility with an initial committed amount of up to $1 billion. Bank of America is the administrative agent and swingline lender.

Hercules Capital Expands Credit Facility with MUFG Bank and SMBC to $720MM

Hercules Capital increased its existing credit facilities with MUFG Bank and Sumitomo Mitsui Banking Corporation from a combined $500 million to $720 million, subject to a borrowing base, leverage and other restrictions.

Freepoint Commodities Renews Credit Facility at $2.63B with BNP Paribas-Led Syndicate

Freepoint Commodities closed a $2.63 billion revolving bank facility. The facility consists of a $1.57 billion, three-year committed tranche and a $1.05 billion, one-year uncommitted tranche. Additionally, the facility has a $570 million accordion feature. BNP Paribas is the administrative agent for the facility.

JPMorgan Chase Leads $350MM Senior Secured Revolving Credit Facility to Excelerate Energy

Excelerate Energy and Excelerate Energy Limited Partnership entered into a senior secured revolving credit facility. JPMorgan Chase Bank is acting as administrative agent for the facility.

Ares Capital Increases and Extends Revolving Credit Facility with 39 Lenders

Ares Capital increased commitments under its revolving credit facility to approximately $4.8 billion and extended the final maturity date. The facility is led by JP Morgan, Bank of America, Truist, MUFG Bank, SMBC and Wells Fargo and includes a total of 39 lenders.

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