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Bracewell Represents Caracal in First RBL in Chad

April 15, 2014

LONDON — Bracewell & Giuliani LLP advised Caracal Energy Inc., a Canadian based international oil exploration and development company (LSE:CRCL), on the first reserve based lending (RBL) in Chad.

Caracal closed a S$140 million Reserve Based Senior Secured Facility with a syndicate of 5 lenders led by Natixis and Société Generale Corporate & Investment Banking as Initial Mandated Lead Arrangers.  The Facility is supported by two of the Company's Petroleum fields in Chad and subject to further commitments being received, Caracal has an option to increase the Facility by up to an additional US$110 million through an accordion feature.

“The London office of Bracewell & Giuliani is exclusively dedicated to the energy sector and we were thrilled to have worked with Caracal on this transaction which brought together our experience advising on RBLs and working in Francophone Africa,” said Olivia Caddy, the lead Bracewell partner. “As an office, we focus on doing deals in frontier jurisdictions, and are currently working on development, finance and M&A transactions in ten West African countries, including Gabon, Ivory Coast, Guinea Bissau and Namibia.”

Bracewell attorneys involved in this transaction include:

Partners: Olivia Caddy and Ben James

Associates: Heidi Keville and Nicholas J. Kendrick