Swiss-based MET Group, one of the fastest growing energy companies in Europe, has signed a 1.1 billion euros Borrowing Base Facility (BBF) for its Sales and Trading segment.
The Borrowing Base Facility was structured and led by ING Bank N.V. as Coordinator, Security and Facility Agent, joined by Coöperatieve Rabobank, Natixis CIB and Société Générale as active Bookrunning Mandated Lead Arrangers, and backed by a pool of 13 additional international banks. The Facility includes an accordion option to increase it up to a maximum of 1.7 billion euros, allowing MET Group to accommodate further volume growth or changes in market structure and environment.
Sven Kirch, MET Group’s CFO commented: “I am very pleased with the outcome of our new Borrowing Base Facility and the terms we have achieved with the pool of our banking partners. The BBF is reflective of the progress MET has made not just in terms of financial strength but also continues to recognize the clarity of our approach to risk management and the growth trajectory we continue to be on. We are looking forward to building on our track record and playing our role in resolving the energy trilemma of energy security, decarbonization and cost.”
