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Perenco – borrowing base facility
02 March 2011
European oil debut success
This is an ambitious financing that used traditional trade finance instruments to good use to create a comprehensive, secured financing for a multi-billion dollar facility. French banks BNP Paribas, Crédit Agricole CIB and Société Générale CIB deserve full credit for working with oil and gas company Perenco to arrange the largest reserve-based lending (RBL) facility ever seen in the European market.
The deal is even more impressive when one takes into account that it represents Perenco’s first foray into the syndication market. The company’s strategy to date has...
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