July 13, 2020
Ineos, a global leading chemical company, has completed a comprehensive approximately US$950 million financing and refinancing, comprising a US$750 million amendment and reinstatement of its existing borrowing base facility, and a new £155 million term loan and revolving credit facility.
The facilities will be used by Ineos to develop its Forties Pipeline System, the largest pipeline system in the UK North Sea. This transformational improvement program will extend the life of the pipeline by an extra 20 years, supporting North Sea Oil & Gas production into the 2040s.
Latham & Watkins advised the banking syndicate on the transaction with a London-based team led by partners John Balsdon, David Ziyambi, and Conrad Andersen with associate Chidi Onyeche.