EUR 950 million Revolving Credit Facilities for MET Group
MET Group, an integrated European energy company headquartered in Switzerland, is pleased to announce the closing of its new Short Term Revolving Credit Facilities at EUR 950 million, with 16 banks participating in the transaction.
The Transaction was oversubscribed and upsized from the previous facility extended in February 2019. The new Facilities consist of a EUR 632.5 million secured and a EUR 317.5 million unsecured revolving credit facility with a 364-day tenor and evergreen extension options. The new Facilities are used for working capital and general corporate purposes. MET now has access to a total of EUR 1,024 million in syndicated short- and medium-term credit facilities mainly from European banks.
For the fifth consecutive time, MET has successfully demonstrated the ability to upsize the Transaction despite a challenging environment. MET is grateful for the support that the European banking community has shown to the Group once again and is pleased to welcome new banks to the Facilities.
Participating lenders and legal adviser
Facility and Security Agent
ING Bank N.V., London Branch
ABN Amro Bank N.V.
Citibank Europe Plc.
Credit Suisse (Schweiz) AG
Deutsche Bank AG, Amsterdam Branch
Erste Group Bank AG
GarantiBank International N.V.
Gazprombank (Switzerland) Ltd.
GPB International S.A.
ING Bank N.V.
JPMorgan Chase Bank, N.A., London Branch
OTP Bank Plc.
UniCredit Bank Hungary Zrt.
Mayer Brown, London
About MET Group
MET Group is an integrated European energy company, headquartered in Switzerland, with activities in natural gas, power and oil. MET Group is focused on multi-commodity wholesale, trading and sales, as well as energy infrastructure and industrial assets. MET is present in 15 countries through subsidiaries, 26 national gas markets and 22 international trading hubs. MET Group is owned 80% by its employees and 20% by Keppel Corporation. The company’s workforce of 1,700 employees currently comprises a total of 32 nationalities.
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