JERA Global Markets, JERA’s trading arm, has secured a $1.49 bill borrowing facility from 30 banks.
The trader said that the one-year revolving credit facility (RCF) will be used for general corporate purposes, including LNG trading activity.
It sources both LNG and coal supplies for JERA’s onshore power generation.
ANZ, DBS, First Abu Dhabi Bank, Mizuho and OCBC are the mandated lead arrangers and bookrunners on the deal. DBS was the facility co-ordinator and Natixis acted as facility agent.
JERA claimed that the facility was oversubscribed from a launch figure of $900 mill, and it chose to scale back lending commitments.
This transaction is slightly higher than last year’s $1.47 bill RCF, in which 22 lenders participated.
“This facility enhances our ability to pursue strategic growth initiatives even as we continue our focus on delivering robust shareholder returns,” Justin Rowland, JERA Global Markets CEO, said. “The commitment from 30 banks reflects strong support from JERA Global Markets’ network of financial partners across this region [Asia] and the Middle East.”
Jera Global Markets is a joint venture between JERA and EDF Trading.
