IFLR1000

New Age African Global Energy $425 million senior secured facility

28/6/2016
Financing
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$ 425 million

Completed

28/6/2016

Overview:

  • US based privately held oil and gas company, with assets across sub-Saharan Africa, New Age (African Global Energy), secured a $425 million senior secured mezzanine loan facility and drew $350 million. 
  • The facility was provided by a consortium of five lenders led by EIG Global Energy Partners and the Africa Finance Corporation. 
  • The loan will allow the company to develop new oil and gas discoveries in Nigeria, Congo-Brazzaville and Shewashan in Iraqi-Kurdistan.

John Crabb - Journalist 

Jurisdictions:

United States
Nigeria
Iraq
Congo Brazzaville

Deal type:

Financing

Practice area:

Banking

Governing law:

England and Wales

Industry sector:

Oil and gas

Firms:
Clyde & Co

Party: New Age (African Global Energy) (Borrower)

Hogan Lovells

Party: Africa Finance Corporation (Senior lender)

Party: EIG (Senior lender)

Lawyer: Nick Tidnam

Templars

Party: Africa Finance Corporation (Senior lender)

Lawyer: Chike Obianwu

The Law Crest

Party: New Age (African Global Energy) (Borrower)

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