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Total Gabon – hybrid structured financing
23 March 2009
Tailor-made solution for Total Gabon
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Gabon
Total
project finance
oil
reserve-based lending
In this West African deal, Total Gabon raised $600 million in order to finance a portion of its exploration and development costs, notably in connection with the major redevelopment programme of the 100%-owned Anguille offshore field, located 20 km off the coast of Gabon. The deal is unique in that it is the first financing of this scale in Gabon. In addition, the financing has a tenor of eight years, somewhat unprecedented for an upstream financing in an emerging country.
Acting as mandated lead arrangers (MLAs) on this oil project financing were BNP Paribas (BNPP), Calyon, Fortis, ING...
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