Practice Areas - Restructuring and Insolvency Law Firms and Lawyers
| Deal Date: | 31-07-2017 | Practice Area: | Restructuring and Insolvency |
| Deal Title: | Premier Oil plc Restructuring of Financial Indebtedness | Industry: | Oil & Gas Producers |
| Description: |
Allen and Overy advised on the complex restructuring of the financial indebtedness of Premier Oil plc., the independent oil and gas exploration and production company, has become effective.
The restructuring's complex nature arose from the significant mix of debt involved, which included listed bonds – both retail and convertible –, Schuldschein loans, a revolving credit facility, term loans, private placement notes and swaps. It involved schemes of arrangement in respect of two companies in the Premier Group and a conversion of the German law Schuldschein loans into an English facility.
The Allen and Overy team advised the co-ordinating committee of banks providing a USD2.5bn revolving credit facility and combined GBP100 million and USD150 million term loan to Premier Oil.
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| Financial Center: | London | Value: | 1000.01-5000.00 |
| Advised Party: | Creditors | Law Firm | Allen & Overy |
| United Kingdom | United Kingdom | ||
| Classification: |
Debt Restructuring |
Lawyer | Trevor Borthwick |
