MET Group, an integrated European energy company, is pleased to announce the extension of both its Short Term and Medium Term Revolving Credit Facilities (RCFs), covering the general working capital and corporate requirements of the company.
The Facilities were oversubscribed and closed at a total of EUR 1,12 billion, backed by a pool of 19 banks. The new Facilities consist of a EUR 740 million secured and a EUR 375 million unsecured revolving credit facility, with a 364-day tenor and evergreen extension options.
The Short Term and Medium Term RCFs were renewed end of January and mid-February 2022 respectively with the same banking pool.
“We are very pleased with this outcome. The backing of such a diversified banking pool is a clear vote of confidence in MET Group. The RCFs will continue to serve our growth plans and support our established standing as a trusted partner in the European energy markets,” said Sven Kirch, MET Group’s CFO.
MET Group
MET Group is an integrated European energy company, headquartered in Switzerland, with activities in natural gas and power markets. MET is present in 13 countries through subsidiaries, 27 national gas markets and 22 international trading hubs. In 2020, MET Group’s consolidated sales revenue amounted to EUR 11.2 billion, the volume of natural gas traded was 70+ BCM. MET is owned 80% by its employees and 20% by the Keppel Corporation.
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