The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Jones Day has acted for Aberdeen-based oil and gas production company Venture Production in relation to £585m of debt financing.
Under a team led by London banking head Ed Nalbantian, the company secured a £350m UK loan, $424m (£210.11m) from US institutional investors and a further £25m from UK institutional investors. The money will be used to finance the ongoing development of the company's asset base and fund future acquisitions.
According to Nalbantian, the financing involved a novel structure that concurrently tapped into the London syndicated loan markets as well as the institutional private placement market on both sides of the Atlantic.
On the syndicated loans side, Venture Production has taken out a medium-term committed corporate debt facility of £350m, which is expected to syndicate in early autumn. Barclays Bank led the syndication advised by Allen & Overy.
The private placements in the UK and US were arranged by London investment bank Schechter & Co advised by Baker Botts.
The loan notes that made up the placement have been secured by the same pool of assets and have final maturity dates of between 10 and 15 years.