Mercuria Energy secures $2 billion emergency credit as traders squeezed

Mercuria Energy secures $2 billion emergency credit as traders squeezed

Bloomberg: Swiss trader Mercuria Energy Group Ltd secured a $2 billion emergency credit facility from banks as commodities prices surge following Russia’s invasion of Ukraine.

The credit facility, which was secured earlier this month, can be renewed or closed in six months time, according to people familiar with the matter who asked not to be identified.

Trading houses have been seeking funds to maintain their physical and derivative positions as prices of everything from natural gas to metals soar. With markets upended and sanctions threatening to disrupt raw materials supplies, traders are facing a liquidity squeeze that could reshape the sector.