Essar Energy mandates six for $1.5bn secured revolver

07 Jul 2011

Indian oil firm Essar Energy has mandated Bank of America Merrill Lynch, BNP Paribas, HSBC, Lloyds, Standard Chartered and WestLB to lead a new $1.5bn three year syndicated loan.

The secured revolver is underwritten by the group of initial mandated lead arrangers and could be launched into syndication as early as next week.

The facility will finance Essar’s purchase of the Stanlow refinery in the UK from Shell for $350m. Essar will also pay Shell for the refinery ...

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