Mercuria plans lender call

摘要

Mercuria energy tradinc plans a conference call with lenders to explain the status of its alumina stock currently stuck at China's Qingdao port, amid preliminary discussions on an upcoming loan refinancing. Mercuria told lenders in an e-mail on July 21 that it would hold a conference call to explain the situation around its stock of alumina, worth about US$44m, stuck at Qingdao port amid an investigation into a suspected financing fraud. However, the date and time of the conference call has yet to be confirmed. The lenders receiving the e-mail are part of a bank group that lent US$1bn to Mercuria in November 2013. The Swiss-based trader has started discussions with some banks on the upcoming refinancing of the facility. Mercuria had in June emailed its banking syndicate in Asia to inform them its alumina stock was stuck at the port, which has been closed with only port authorities having access. No stock was moving in or out.