Practice Areas - International Finance and Bank Credit Law Firms and Lawyers
| Deal Date: | 29-02-2012 | Practice Area: | International Finance and Bank Credit |
| Deal Title: | PDVSA - ICBC Self-liquidating Prepayment Facility | Industry: | Oil & Gas Producers |
| Description: |
Hogan Lovells advised on a US$1.5 billion oil-backed prepayment financing between its client Petroleos de Venezuela and Industrial and Commercial Bank of China Limited.
The complex three-layered structure used in the financing was designed to achieve a self-liquidating prepayment facility secured by oil and oil products. The closing marks the first instance of such a type of financing structure being used by a Chinese bank.
The Hogan Lovells team was led by Infrastructure and Project Finance practice partners Bruno Ciuffetelli (Caracas) and Keith Larson (Washington), and included of counsel Nick Tidnam (London) and associates Erica Porter (London) and Wylie Levone (Washington). Partner Anton Louwinger (Amsterdam) also assisted in Dutch tax and banking aspects of the financing.
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| Financial Center: | Washington DC | Value: | 1000.01-5000.00 |
| Advised Party: | Borrower | Law Firm | Hogan Lovells |
| Borrower | Venezuela | Lender | China |
| Classification: |
Syndicated and Bilateral Loans Bilateral Loans |
Lawyer | Keith Larson |
