IFLR1000

Neconde Energy $640 million RBL refinancing

1/1/2016
Refinancing
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$ 6.4 billion

Announced

1/1/2016

Overview:

  • Neconde Energy is in the process of securing a $640 million syndicated senior secured medium term corporate facility to refinance its existing reserve base lending (RBL) facility, for general expenditure and to fund its activities in the oil and gas sector.  
  • The transaction saw its previous RBL facility be restructured to a corporate facility. 
  • This is the largest ever refinancing in the upstream petroleum sector in Nigeria.

John Crabb - Journalist 

Jurisdiction:

Nigeria

Deal type:

Refinancing

Practice area:

Banking

Governing laws:

England and Wales
Nigeria

Industry sector:

Energy

Firms:
Alliance Law Firm

Party: Neconde Energy (Borrower)

Lawyer: Uche Val Obi

Dentons

Party: FBN Quest (Mandated lead arranger)

Party: Access Bank (Mandated lead arranger)

Party: Guaranty Trust Bank (Mandated lead arranger)

Party: Diamond Bank (Lender)

Party: Fidelity Bank (Lender)

Party: Zenith (Lender)

Party: FBN Merchant Bank (Lender)

Party: Glencore Energy (Lender)

Party: Africa Finance Corporation (Lender)

Party: African Export-Import Bank (Lender)

G Elias & Co

Party: Neconde Energy (Borrower)

Lawyer: Fred Onuobia

Norton Rose Fulbright

Party: Neconde Energy (Borrower)

Templars

Party: Access Bank (Mandated lead arranger)

Party: Fidelity Bank (Lender)

Party: Zenith (Lender)

Party: FBN Merchant Bank (Lender)

Party: African Export-Import Bank (Lender)

Party: FBN Quest (Mandated lead arranger)

Party: Guaranty Trust Bank (Mandated lead arranger)

Party: Diamond Bank (Lender)

Party: Glencore Energy (Lender)

Party: Africa Finance Corporation (Lender)

Lawyer: Zelda Akindele

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