LONDON – Bracewell (UK) LLP has represented DNB Bank ASA, London Branch and the other lenders in relation to Serica Energy’s $750 million reserve-based lending (RBL) facility. The RBL includes a $500 million secured revolving loan facility and a $250 million secured revolving letter of credit facility.
The new facilities, which were oversubscribed, replace Serica Energy’s current $525 million RBL facility, on extended maturity and improved pricing terms. The new banking syndicate comprises a total of 11 leading international banks, including all lenders under the previous facility.
Bracewell lawyers involved in the transaction include:
Partners: Eimear Murphy, Mark Hunting and Margaret B. Beasley
Senior Associate: Mark Kahn
Associates: Rebecca Williamson and Olivia Wynne Thomas
