Mercuria Energy Trading is seeking to secure a credit facility worth $1.25 billion, Bloomberg reports. The new credit line will replace a $1.25 billion loan that the Geneva-based oil trader had arranged in 2010.
Mercuria will pay 235 basis points more than the London interbank offered rate to draw three-year funds under the terms of the facility. The loan will be provided by a group of lenders, including ABN Amro Bank, BNP Paribas, Credit Agricole, ING Groep, Natixis, Rabobank International, Societe Generale, Standard Chartered Bank and Royal Bank of Scotland.
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