Thursday 12 December 2024
Select a region
Business

Ogier Jersey acts for the lenders in multi-billion financing to Tullow Oil Group

Ogier Jersey acts for the lenders in multi-billion financing to Tullow Oil Group

Thursday 23 April 2015

Ogier Jersey acts for the lenders in multi-billion financing to Tullow Oil Group

Thursday 23 April 2015


Law firm Ogier in Jersey has acted for the lenders in connection with amendments and an increase to approximately US$6.3 billion to financing provided to the Tullow Oil Group.

The lenders (including BNP Paribas) increased their lending facility by US$ 450 million, including a US$ 200 reserved based lending facility and US$ 250 million corporate credit facility.

Amendments were also made to the facilities to address the risk of potential covenant breach due to oil price volatility and to allow investment in the production and development of assets in West Africa.

The Ogier team was led by partner Chris Byrne with senior associate Peter Longstaffe and associate Anna Cochrane.

The English legal advisers were Herbert Smith Freehills LLP for the lenders and Norton Rose Fulbright LLP for Tullow Oil.

Sign up to newsletter

 

Comments

Comments on this story express the views of the commentator only, not Bailiwick Publishing. We are unable to guarantee the accuracy of any of those comments.

You have landed on the Bailiwick Express website, however it appears you are based in . Would you like to stay on the site, or visit the site?