London, UK, 30 March 2012 – Baker & McKenzie has advised Exillon Energy plc, a Russian oil and gas company, in connection with a USD 100 million secured syndicated loan facility arranged by Credit Suisse International. The loan, which will be used to finance drilling and infrastructure related projects, will also enhance the company's flexibility to develop its recent acquisitions.
Baker & McKenzie Finance Partner Frances Okosi, who led on the deal commented, “Exillon has successfully negotiated substantive improvements in the terms of its group financing, namely increasing the available facility, reducing the margin and increasing the term. This is an achievement in current market conditions and a credit to the company.”
The loan refinances the existing USD 50 million loan from the same lender and bears an interest rate margin above LIBOR which is lower than the previous facility and has a final maturity of 5 years. Exillon Energy and its subsidiaries will guarantee the obligations of Exillon Finance under the agreement.
In 2009 and 2010, the London and Moscow offices of Baker & McKenzie acted in relation to Exillon Energy’s initial public offering and listing on the main market of the London Stock Exchange, and also in relation to the finance of the original facility.
The Baker & McKenzie team included Moscow-based partner Vladimir Dragunov, London-based associate James Keeping and Moscow associates Andrey Lebedev and Maxim Khrapov.
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