EUR 885 million Revolving Credit Facilities for MET Group
MET Group (“MET” or the “Group”), a leader in European energy marketing, is pleased to announce the closing of its new Revolving Credit Facilities (the “Facilities” or the “Transaction”) at EUR 885 million, with 15 banks participating in the transaction.
The Transaction was oversubscribed and upsized by EUR 150 million from the previous facility extended in December 2017. The new Facilities consist of a EUR 607.5 million secured and a EUR 277.5 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.
This Transaction follows MET’s debut unsecured three-year term loan credit facility closed in May 2018 that was subsequently upsized to EUR 74 million in October 2018.
MET now has access to a total of EUR 959 million in syndicated short- and medium-term credit facilities almost reaching the EUR 1 billion bar. MET’s credit facilities have more than doubled in size over the last three years demonstrating MET’s ongoing and increased support offered by banking partners across Europe. This funding base will support MET in its long-term growth strategy.
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.
HSBC Trinkaus & Burkhardt AG
ING Bank N.V.
OTP Bank Plc.
UniCredit Bank Hungary Zrt.
Mayer Brown, London
About MET Group
MET Group is a European energy company, headquartered in Switzerland, with activities in natural gas, power and oil markets. MET is present in 15 countries through subsidiaries, 28 national gas markets and 22 international trading hubs. The Group is 100% owned by its managers and employees. The company’s workforce of over 1,700 employees currently comprises a total of 32 nationalities.