Covington leads banks through energy deals

Covington & Burling has advised India’s second-largest bank ICICI and Standard Chartered as lead arrangers for two large-scale energy projects.

The projects totalled $925m (£467.01m) and were undertaken by Indian materials and energy giant Reliance Industries.

The loan facilities were executed separately and incorporated a syndicate of 29 banks spanning Europe, the Middle East, South Africa and Asia.

Lead partner at Covington Ralph Voltmer said: “These complex project financings were completed within a very short timeframe and called on the firm’s broad deal and substantive experience and highlighted the firm’s international capabilities.”