Agreements SACE - 03 July 2023

Strategic import transaction and new business opportunities for Italian exporters thanks to SACE’s Push Strategy

Mercuria, one of the world’s leading independent energy trading groups, has entered into a 500 million euros multi-currency five-year facility arranged by UniCredit, with UniCredit, ING, Natixis, Société Générale, UBS and Abu Dhabi Commercial Bank acting as lenders. The loan is guaranteed by SACE, Italy’s Export Credit Agency, as part of its Push Strategy.

The aims of this transaction implemented under SACE’s Push Strategy are contributing to Italy’s energy security and supporting Italian exports, two crucial goals under the current global complex economic situation.

SACE's intervention has the objective of maximizing business opportunities for small, medium and large Italian enterprises on both their export and import fronts. This kind of operation is of strategic importance to the Italian economy and is aimed at ensuring the current and future stability of supplies of commodities to the country and contributing to the growth of Italian exports.

Under the five-year agreement, Mercuria will increase its supplies of natural gas and LNG to Italy, supporting our national industrial needs, and consider future procurement of goods and technology from Italian suppliers in the context of its future investments, including in the energy transition sector. Furthermore, as part of the agreement, Mercuria will also further strengthen its relationships with relevant Italian companies by participating in a programme of commercial meetings.

Founded in 2004, the Mercuria Group is one of the leading global players operating in the energy trading and transition sectors in more than 50 countries all over the world, with activities ranging from supply, storage, transformation to transportation and delivery of energy products including natural gas, LNG, electricity base metals, petrochemicals, crude oil, refined products, minerals and biofuels. Some of these products are strategically important for Italy's economy and at a high supply risk, in light of the effects of the Russian-Ukrainian conflict.

Clifford Chance, as Legal Counsel for UniCredit and SACE, contributed to finalising the transaction.

Documents

Would you like more information?
Contact us +39 06.6736.888 [email protected]

Ultimi comunicati

02 February 2024
SACE continues its commitment to fostering sustainability discussions by convening leaders from Italian economics, industry, and institutions for an exclusive event, building on the success of the previous year. This closed-door meeting provides a platform for meaningful dialogue on pressing sustainability issues, featuring insights from global experts. The focal point of this year's edition has been biodiversity, addressing a critical global concern, particularly significant for Italy, boasting the highest biodiversity in Europe. The event featured a keynote speech by Tony Juniper, a prominent advocate and world expert in biodiversity.
06 February 2024
SACE support is aimed at guaranteeing a loan in support of the Ministry of Finance of Saudi Arabia to sustain business and trade opportunities for Italian exporters, under the SACE Push Strategy Scheme.
Deals SACE - 24 January 2024
The gigafactory will produce 3GW of clean energy capacity by 2024, becoming Europe’s biggest solar panel production facility. Following the initial commitment by UniCredit, later flanked by BPER Banca and Banco BPM, the EIB is now joining the Italian banks in supporting the company. Senior financing is 80% backed by SACE Green guarantee, The overall financing secured for the construction and operation of the 3Sun plant is partly backed by InvestEU.