13 September 2004 LAWFUEL – Best for banking law, attorneys, law firms, legal research Herbert Smith has advised Citigroup and ABN Amro as the joint book runners
on an up to $1 billion facility to TNK-BP, the oil and gas company. The deal
is the largest bank debt deal in the CIS this year. The funds will be used
for general corporate purposes.
Herbert Smith Moscow, working alongside its London and Paris offices, has
closed a series of major finance deals over the last twelve months, in
excess of US$2 billion. All six loan facilities were made available to CIS
energy and natural resources companies.
Herbert Smith also advised:
* BNP Paribas as the sole lead arranger on a $200 million loan to
* BNP Paribas as the sole lead arranger on a US$187.5 million
loan to OAO Tatneft, one of Russia’s largest integrated oil and gas
* ING, Société Générale and Citigroup as the mandated lead
arrangers on a $450 million loan to TNK
* ING, as coordinating mandated arranger, on an amendment to a
US$400 million facility (increasing it to $450 million) to SUAL
(Siberian-Urals Aluminium Company) Russia’s second largest aluminium company
and a subsequent facility to SUAL of US$50 million advising ING and
* Société Générale, as arranger, on a US$100 million loan to
AO PetroKazakhstan, an oil production and refining company
John Balsdon led the Herbert Smith team advising on these transactions, he
was assisted by Liza Ivanova, Allan Leal, Helen Plummer, Artjom Buligin,
Tatyana Fokina and Debbie Standring. Robin Wittering led on the US$50
million facility to SUAL.
Clive Barnard, head of Herbert Smith’s finance division, commented:
“These transactions highlight the progress that we are making in both
establishing and consolidating relationships with leading investment banks.
The deals also confirm our leading international reputation in the energy
and natural resources industry, a sector that is particularly active in the
CIS market at present.”
Herbert Smith’s London and Paris offices worked alongside Moscow advising
Société Générale on the PetroKazakhstan transaction. Clotilde Dirnat, who
led the Paris team advising on French law aspects, in particular the
granting of French law security interests over bank accounts located in
“It was pleasing to have been able to demonstrate the cross-border service
that we are able to provide Société Générale on a complex transaction such
as this following our appointment to their global panel last year.”
She was assisted by Cyril Tour and Jonathan Souffir.
Herbert Smith London advised on hedging matters. Dina Albagli, assisted by
Ilze Vigo, Susanna Tatulian and Richard Phillips, led the team.
Notes to editors
1. BNP Paribas is a major client for Herbert Smith’s London,
Moscow, Paris and Hong Kong offices. The firm recently advised them:
* as joint lead arranger on a £235 million
Term Loan and Revolving Letter of Credit Facility to Perenco UK Limited
(Jason Fox and Clotilde Dirnat)
* as arranger on a US$30 million innovative
structured export finance facility to an international bank (Georges Dirani)
2. Herbert Smith is a member of Société Générale’s global
panel. The firm (Georges Dirani) recently advised them as arranger in
connection with a EUR110 million syndicated loan to be granted to Euler
3. Herbert Smith is a member of ING’s UK and Russian panels.
Earlier this year Herbert Smith (John Balsdon) advised ING as the
co-coordinating mandated arranger on a US$400 million export finance loan to
Siberian Urals Aluminium Company (SUAL). This transaction was voted as a
‘Deal of the Year 2003’ by Trade Finance magazine.
4. Herbert Smith is an international law firm with 1,000
lawyers (including over 200 partners) and a network of offices in Europe and
Asia. It has a formal alliance with the leading German firm, Gleiss Lutz,
and the leading Dutch and Belgian firm, Stibbe.
5. For further information please contact John Balsdon on +7
095 363 6507 or Alex Charlwood, business development manager on +44 (0)20
7466 3917 / [email protected]
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