Norton Rose and Baker Botts act on $1.3bn Russian energy finance deal
Norton Rose and Baker Botts have taken lead roles on a major finance transaction which has seen Siberian Coal Energy Company (SUEK) secure a five-year loan facility worth $1.3bn (£813m). Baker Botts' London office acted for SUEK, Russia's largest coal producer and a regular client of the Texas-based law firm, while Norton Rose advised a 16-bank syndicate led by UniCredit and ING.
November 09, 2011 at 07:03 PM
2 minute read
Norton Rose and Baker Botts have taken lead roles on a major finance transaction which has seen Siberian Coal Energy Company (SUEK) secure a five-year loan facility worth $1.3bn (£813m).
Baker Botts' London office acted for SUEK, Russia's largest coal producer and a regular client of the Texas-based law firm, while Norton Rose advised a 16-bank syndicate led by UniCredit and ING.
Norton Rose's team on the deal was led by City banking partner Nick Grandage and also included Moscow-based partner Alexander Tsakoev.
Senior associate Matthew Hinxman also advised on the deal, with assistance from Irina Zghibarti, Natalie Coverdale and Daniela Schluckebier in London and Ksenia Zolotova in Moscow.
The Baker Botts team was headed up by London-based cross-border finance specialist partner Rubin Weston alongside Moscow partner Maxim Levinson.
Grandage added: "While the deal had been talked about for some time, we were instructed only about six weeks prior to closing and that is quite an impressive timeline for a deal of this size. There was a good team working on the deal on both sides and it all went very smoothly."
Grandage, a banking partner with a practice focused around energy and commodities transactions, joined Norton Rose from SNR Denton one year ago. Weston, meanwhile, joined Baker Botts from US rival Chadbourne & Parke three years ago.
The deal closed at the end of last month (27 October).
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