find the latest legal job
Part Time Risk & Compliance Officer
Category: Other | Location: Brisbane QLD 4000
· Brisbane City · Flexible Part Time Hours
View details
Infrastructure Lawyer/SA
Category: Construction Law | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Global elite law firm · Dedicated Infrastructure team
View details
In-House Legal Counsel (Mid to Senior)| Regulated Markets (Energy and Gas)
Category: Generalists - In House | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Full PD on Request · Exciting High Impact Role
View details
Family Lawyer
Category: Family Law | Location: Eastern Suburbs Melbourne VIC
· Boutique Firm · Great Reputation
View details
Infrastructure Lawyers
Category: Construction Law | Location: All Perth WA
· We'd be particularly interested to hear from you if you were a lawyer who knows your way around the infrastructure and energy sectors.
View details
Norwegian lenders support subsea resources operations

Norwegian lenders support subsea resources operations

Dale Rayner

Two Norwegian export credit agencies and a Norwegian bank have completed a multimillion-dollar term loan and guarantee facility to Australian oil and gas company, Woodside.

Firms: Norton Rose Fulbright (DNB Bank ASA, Eksportkreditt Norge AS, Guarantee Institute for Export Credits); Herbert Smith Freehills (Woodside)

Deal: Eksportkreditt Norge AS has loaned Woodside US$100 million, guaranteed by DNB Bank ASA and the Norwegian Guarantee Institute for Export Credits (GIEK).

Value: US$100 million

Area: Energy and resources, finance

Key players: The Norton Rose Fulbright team advising the Norwegian entities was led by partner Dale Rayner (pictured) and senior associate Grant Schulz, with assistance from associate Ben Bourke. Partner Ellen Thomas advised on the tax aspects of the transaction.

Deal significance: Eksportkreditt Norge AS, DNB Bank ASA and the GIEK have completed a term loan and guarantee facility worth US$100 million to Woodside.

The funds will be used to support the delivery of subsea equipment for Woodside’s offshore operations in Western Australia.

Norton Rose Fulbright advised Eksportkreditt Norge AS as the lender; DNB Bank ASA as agent and arranger, ECA co-ordinator and ECA guarantor; and the GIEK as ECA guarantor on the loan and guarantee facility.

The deal is the first facility of its type between Woodside and the Norwegian export credit agencies.

“We are pleased to be able to facilitate this agreement between Australia’s largest independent oil and gas company and the Norwegian export credit agencies,” said Norton Rose Fulbright lead partner Dale Rayner.

“This deal is a great example of the sort of cross-border banking and finance and tax work we do for the energy and financial institution industries.”


Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Norwegian lenders support subsea resources operations
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Law Council of Australia
Nov 21 2017
LCA calls for urgent adoption of ‘game-changing’ recommendation
The Law Council of Australia has urged for the immediate adoption of a key recommendation put forwar...
Sally Wheeler
Nov 20 2017
ANU College of Law appoints new dean
A distinguished legal academic and the former head of law of a higher education institution in Irela...
Violence
Nov 17 2017
It's time for politicians to commit to eradicating domestic violence
The national shame of domestic violence cannot be left unaddressed, writes Christine Smyth. ...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...