MET Group lands oversubscribed €1.2B credit facility for trading arm
What's the deal? MET GroupDealroom has a profile for this one. Try Dealroom → has closed a €1.2 billion credit facility for its sales and trading segment. ING BankDealroom has a profile for this one. Try Dealroom → coordinated the arrangement, with Coöperatieve RabobankDealroom has a profile for this one. Try Dealroom →, NatixisDealroom has a profile for this one. Try Dealroom → CIB, and Société Générale serving as lead bookrunners.
Why now? Strong demand from a broad syndicate of international banks left the facility oversubscribed. That allowed MET to expand the size by €100 million, with an option to lift the total limit to €1.8 billion.
Who's in? Japanese bank MUFGDealroom has a profile for this one. Try Dealroom → joined the syndicate as a new partner. The company said the financing gives it flexibility to build its supply network around the needs of end customers.
What's the endgame? MET frames the facility as fuel for its growth strategy. "The continued trust of our banking partners, reflected in the strong oversubscription, is a clear endorsement of our strategy and disciplined growth approach," said Ankur Khera, MET Sales & Trading chief financial officer.
Khera added that the deal gives the firm "added confidence to accelerate our ambitions while maintaining a strong focus on risk and execution."
The signal: At €1.2 billion, this ranks among the largest debt rounds for a Swiss energy company, sitting in roughly the 90th percentile of comparable deals. The oversubscription signals continued lender appetite for established energy traders despite volatile markets.
Image credit: Ken Lund
