Mercuria Seeks New Liquidity in Asia With $200 Million Financing

Mercuria Energy Group Ltd. plans to raise at least $200 million of financing in Asia, according to people familiar with the matter, as commodity traders seek alternative sources of funding at a time when the Iran war has raised the cost of buying cargoes.

The company is in talks with banks for a term loan in both US dollars and Hong Kong dollars, said the people, who asked not to be identified as they’re not authorized to speak publicly. CMB Wing Lung Bank Ltd. and Hang Seng Bank Ltd. have been appointed to arrange the one-year facility for working capital, which is expected to be drawn in early July, the people said.