Wragge & Co leads £32m Canada deal
Law firm Wragge & Co has advised lenders BNP Paribas and HSBC on a $50m (£31m) cross-border deal.
The deal, led by advisers from the Birmingham firm, secured the multimillion-pound borrowing base financing for Toronto Stock Exchange-listed Sea Dragon Energy.
The funds will be used to finance further development of Sea Dragon’s two petroleum concessions in Egypt.
Kieron Dwyer of Wragge & Co said: "This is a particularly significant transaction given the difficulty in securing financing in Egypt following the Arab Spring.
"Building on our growing relationship with BNP Paribas and our long-standing relationship with HSBC, the deal called on our specialist expertise in the upstream oil and gas sector."
Wragge & Co led the deal with support from Hogan Lovells in Amsterdam, Blakes in Canada, Conyers, Dill & Pearman in Bermuda and Helmy, Hamza & Partners in Egypt.
The team worked closely with BNP Paribas' directors Anne Gaelle-Roy and Sami Zouari, associate Anne-Gabrielle Laboureau and in-house counsels Rachel Donoghue and Laleh Shahabi.
