Herbert Smith Freehills LLP
The finance practice at Herbert Smith Freehills LLP is 'very strong and has an excellent level of knowledge of the market and recent developments'. The trade finance team is part of the broader energy and natural resources practice, and it acts for both lenders and borrowers in commodity-related financings, particularly in the energy sector. It has notable expertise in reserve-based lending transactions. Oil and gas finance expert Thomas Bethel , who has 'a wealth of knowledge', and energy and project finance specialist William Breeze are the lead partners. Bethel advised senior lenders on the $500m refinancing of a secured loan and letter of credit borrowing base facility to EnQuest.
Legal 500 Editorial commentary
Testimonials
Collated independently by Legal 500 research team.
‘The team is very strong and they have an excellent level of knowledge about the market and recent developments.’
‘Thomas Bethel has a wealth of knowledge.’
Key clients
- The senior lenders to the Enquest group
- A syndicate of lenders – Credit Agricole Corporate and Investment Bank, DNB Bank ASA, Powszechna Kasa Oszczednosci Bank Polski S.A, Bank Gospodarstwa Krajowego, Bank Handlowy W Warzawie S.A., SMBC Bank EU AG, BNP Paribas, ING Belgium NV/SA, Societe Generale
- Credit Agricole Corporate and Investment Bank (CACIB), Credit Agricole Leasing & Factoring and Ester Finance Technologies
- Mercuria
- Black Sea Oil & Gas
- Dana Petroleum
- Petrogas
Work highlights
- Advised the senior lenders on the refinancing of a secured loan and letter of credit borrowing base facility to the EnQuest group (USD 500 million).
- Acted for a syndicate of lenders in relation to the amendment of an existing reserve-based lending facility agreement between the lenders and PGNiG Upstream Norway to inter alia, increase the facility amount by US$500 million, make provision for subsequent ESG provisions and transition the interest rate from US LIBOR to Compounded SOFR.
- Advised Mercuria Energy Trading SA, a wholly owned subsidiary of Mercuria Energy Group Limited, in connection with the increase of Jervois Suomi (Holding) Oy and Jervois Finland Oy's secured working capital facility from US$75 million to US$150 million.
Lawyers
Rising stars
Leading individuals
Practice head
The lawyer(s) leading their teams.
Thomas Bethel, William Breeze