Lundin Petroleum $5 billion reserve-based loan facility

5/2/2016

$ 5 billion

Completed

5/2/2016


Overview:

  • Lundin Petroleum has taken out a seven year up-to-$5 billion reserve-based loan (RBL) facility from 23 banks.
  • It is believed to be the largest RBL ever taken out by an upstream oil and gas company.
  • The deal consists of an initial $4.3 billion loan with an accordion feature allowing additional funding of $700 million.
  • The new facility replaces an existing $4 billion due to mature in 2019.
  • The funds will be used to develop the Johan Sverdrup oil field in Norway.

Jon Moore - Journalist

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