1 November – LAWFUEL – The Law News Network – Linklaters has advised Calyon as arranger, security trustee, agent and account bank on a US$2 billion Secured Term Loan Facility for Sonangol.
The financing, which has a 7 year tenor, is the first Sonangol financing to extend beyond five years.
The Linklaters team was led by Philip Badge in Singapore, assisted by Martin David, Toby Grimstone, Nathan Dodd and Cora Grannemann. The Hong Kong team was led by Trevor Clark, assisted by Justin Ma and Zhang Xin.
Philip Badge, banking partner, said:
“This is yet another ground-breaking transaction for Sonangol in that it is its first non-ECA supported financing to extend beyond five years and also represents a marked departure from the previous prepayment structures used on Sonangol financings. As a result of this deal we have now acted for arrangers on Sonangol financings totalling in excess of US$8billion.”
Li & Partners advised the Borrower and Security Provider as to Hong Kong law, Professor Fernando Oliveira and Manuela Cunha acted as legal advisers to Calyon as to Angolan law and Global Law Office advised Calyon as to PRC law.
