Linklaters has taken the lead role for BP as the oil giant moves to borrow $5 billion by pledging sales revenues from two oil fields. BP has raised the multibillion-dollar sum via a banking deal involving oil revenues from two separate fields in Azerbaijan and Angola, with Herbert Smith advising the arranging banks on the $3 billion Angola loan and Baker & McKenzie advising the banks on the Azerbaijan deal. BP is selling off global assets to finance the big cleanup bill from the Gulf of Mexico spill.
August 18, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Linklaters has taken the lead role for BP as the oil giant moves to borrow $5 billion by pledging sales revenues from two oil fields.
BP has raised the multibillion-dollar sum via a banking deal involving oil revenues from two separate fields in Azerbaijan and Angola, with Herbert Smith advising the arranging banks on the $3 billion Angola loan and Baker & McKenzie advising the banks on the Azerbaijan deal.
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