Standard Bank Group leads US$550m Shoreline Natural Resources facility
Standard Bank Group, as mandated lead arranger and bookrunner, has closed a US$550,000,000 syndicated bank guarantee and bridge facilities for Shoreline Natural Resources. This is one of the largest finance deals completed in Nigeria so far in 2012.
Shoreline has used the facility to acquire 45% in OML 30, an oilfield in the Niger Delta of Nigeria, from 1 November 2012.
China Development Bank joined Standard Bank Group as mandated lead arranger. They were joined by lead arrangers Ecobank Nigeria and First City Monument Bank.
The facility was fully underwritten by Standard Bank Group. It was signed with Shoreline on 29 June 2012, has a 12+6 month tenor and is structured as a bank ...