Bracewell Represents Lenders on New $525 Million RBL for Serica Energy Plc

LONDON – Bracewell (UK) LLP has represented DNB Bank ASA, London Branch and the other lenders in relation to Serica Energy plc’s new $525 million reserve-based lending (RBL) facility. The RBL includes an uncommitted accordion option for Serica to increase total commitments by an additional $525 million, potentially increasing the total commitments up to $1.050 billion. Following financial close, the RBL was drawn to repay Serica’s existing senior RBL and junior facility in full.

Bracewell lawyers involved in the transaction include:

Partners:  Eimear Murphy, Seth D. DuCharme and Darren Spalding

Counsel: Leslie Hansen

Associates: Onis Chukwueke-Uba, Joel Padi, Sam Phillips, Margaret B. Beasley and Meagan C. Maloney