(Reuters) - Mercuria Asia Group Holdings signed a new 70.5 billion yen ($485.7 million), three-year Samurai term loan facility, the global commodity trader said in a statement on Monday.
"The facility replaces the existing 55.5 billion yen Samurai loan signed in 2020 and will be used for general corporate and working capital purposes," the company said.
Samurai loans are yen loans issued in Japan by foreigners.
The Geneva-based company said it was the fifth time it had returned to the Japanese syndicated loan market, with seven new financial institutions joining a total syndicate of 23 banks.
The Samurai financing was coordinated by Mizuho Bank Ltd, MUFG Bank Ltd, and Sumitomo Mitsui Banking Corporation acting as Joint Bookrunning Mandated Lead Arrangers, the statement added.
($1 = 145.1400 yen)