Bracewell (UK) LLP has represented DNB Bank ASA, London Branch and the other lenders in relation to Serica Energy plc’s new $525 million reserve-based lending (RBL) facility. The RBL includes an uncommitted accordion option for Serica to increase total commitments by an additional $525 million, potentially increasing the total commitments up to $1,050 million. Following financial close, the RBL was drawn to repay Serica’s existing senior RBL and junior facility in full.
