Latham Advises Lenders on Ineos’s Refinancing

Funds will support the development of the largest pipeline system in the UK North Sea.

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.

Notice: We appreciate your interest in Latham & Watkins. If your inquiry relates to a legal matter and you are not already a current client of the firm, please do not transmit any confidential information to us. Before taking on a representation, we must determine whether we are in a position to assist you and agree on the terms and conditions of engagement with you. Until we have completed such steps, we will not be deemed to have a lawyer-client relationship with you, and will have no duty to keep confidential the information we receive from you. Thank you for your understanding.