20 December 2016
International law firm Watson Farley & Williams (“WFW”) has advised a syndicate of banks consisting of BNP Paribas, BMO, Commonwealth Bank of Australia, Danske Bank, DnB Bank, ING, The Royal Bank of Scotland, SEB, SR-Bank and Wells Fargo, on two major banking facilities in favour of Faroe Petroleum to finance its expansion.
The two facilities are:
Faroe Petroleum is an independent oil and gas company focussing principally on exploration, appraisal and production opportunities in Norway and the UK.
The WFW London commodities and upstream finance team advising the syndicate was led by Partner Joe Levin, assisted by Associate Nehal Khan and Trainee Matthew Pawlak. Senior Associate Claire Miles provided tax advice. Wikborg Rein, led by Senior Lawyer Vidar Lohre, acted as the lenders’ Norwegian counsel. Pinsent Masons advised Faroe Petroleum.
Joe commented: “I’m delighted to have advised so many leading banks on this important transaction that enables Faroe Petroleum to go forward with their planned strategic growth and expansion. That they opted for WFW as their lead legal counsel demonstrates the growing reputation of the firm’s upstream finance expertise”.
BNP Paribas Vice President Anne-Gabrielle Laboureau added: “It was a pleasure working with Joe and his team. Their legal and technical expertise and support was vital in ensuring the efficient and timely completion of this transaction on a very challenging timescale”.