Mercuria Energy Trading is seeking to secure a credit facility worth $1.25 billion, Bloomberg reports. The new credit line will replace a $1.25 billion loan that the Geneva-based oil trader had arranged in 2010.

Mercuria will pay 235 basis points more than the London interbank offered rate to draw three-year funds under the terms of the facility. The loan will be provided by a group of lenders, including ABN Amro Bank, BNP Paribas, Credit Agricole, ING Groep, Natixis, Rabobank International, Societe Generale, Standard Chartered Bank and Royal Bank of Scotland.

Click here for the story from Bloomberg.