Chrysaor E&P Finance Limited

Chrysaor E&P Finance Limited - Reserve-Based Lending

Industry
Oil & gas/Oil - Upstream (Exploration and production)
Area of finance
Commodity Trade Finance
Country
United Kingdom

Deal Overview

On 31 January Chrysaor and Shell announced the sale of a portfolio of North Sea oil and gas assets by Shell to Chrysaor. The acquisition will be financed by a combination of (i) equity provided by Harbour Energy and EIG, (ii) a reserve based lending facility (RBL) underwritten by 5 banks, and...

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On 31 January Chrysaor and Shell announced the sale of a portfolio of North Sea oil and gas assets by Shell to Chrysaor. The
acquisition will be financed by a combination of (i) equity provided by Harbour Energy and EIG, (ii) a reserve based lending facility (RBL) underwritten by 5 banks, and (iii) a junior debt financing by a 100% subsidiary of Shell. ING acts as Initial Mandated Lead
Arranger, Bookrunner, Technical Bank and Documentation bank on the USD 1.5bn RBL facility.
The transaction represents one of the largest oil and gas acquisitions in the UK in recent history. It is the largest transaction to date
by in Shell’s USD 30bn divestment program, and sets up Chrysaor as the third largest oil and gas producer in the UK North Sea
(behind only Total and BP).

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Deal Volume
$ 2bn
Financial Close
31 January 2017
Sources
Submitted by participant(s), TXF article, Press release, Article in other media

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