Overview
International law firm McDermott Will & Emery advised Absa Bank Limited as documentation agent and facility agent for a large syndicate of lenders in relation to the refinancing of Puma Energy’s sustainability linked term and revolving credit facilities, representing USD 775,000,000 of commitments in total.
The facilities attracted commitments from a diverse group of lenders, with a broad geographical split across Africa, Europe and USA, Asia-Pacific and the Middle East.
Absa Bank Limited (acting through its Corporate and Investment Banking division), ING Bank N.V., Amsterdam, Lancy/Geneva branch, Natixis, Nedbank Limited, London Branch and SMBC Bank International Plc acted as Mandated Lead Arrangers and Active Bookrunners for the transaction. FirstRand Bank Limited (acting through its Rand Merchant Bank division) (London Branch), Industrial and Commercial Bank of China Limited, London Branch, MUFG Bank, Ltd., Société Générale and Standard Chartered Bank acted as Mandated Lead Arrangers and Passive Bookrunners. MUFG Bank, Ltd. and SMBC Bank International PLC acted as Sustainability Coordinators.
Absa Bank Limited is the flagship bank of the Absa Group, one of the largest diversified financial services groups on the African continent. Driven by a commitment to the people it serves, Absa has a strategic vision , and positioning as a leading pan-African financial institution.
“We are proud to have played a leading role in the successful refinancing of Puma Energy’s sustainability-linked facilities”, says Dean Hack, Banker Coverage, Absa Corporate and Investment Banking. “This transaction reflects not only the strength and diversity of global lender appetite for well-structured African-led deals, but also the importance of embedding sustainability into capital markets solutions. At Absa CIB, we remain committed to supporting our clients with innovative, cross-border financing that unlocks long-term value and accelerates the transition to a more sustainable future.”
Puma Energy is a leading global downstream energy business, safely providing energy in more than 35 countries, primarily across central America and Sub-Saharan-Africa. Their downstream business segments include fuels, aviation, lubricants, LPG and bitumen. Their purpose is energising communities to help drive growth and prosperity by sustainably serving their customers’ needs in high potential countries around the world.
The McDermott team was led by partner Kathleen Wong and included counsel Giulia Venanzoni, and associates Emily Rees and Jonathan Bryant
About McDermott
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