London – Mayer Brown has acted on the “Europe Commodity Finance Deal of the Year” at the TXF Commodity Finance Deals of the Year awards 2023 advising the mandated lead arrangers on the €1.23 billion multicurrency revolving borrowing base facilities for MET Group.
Proceeds helped the company in their sustainability and energy transition initiatives and became a cornerstone for further developing the energy transition capabilities, where natural gas is a critical part. A distinctive aspect of the facility was the pan-European coverage with gas storage in 5 different European locations with 8 different jurisdictions involved overall, being: Switzerland, UK, Germany, Slovakia, Croatia, Hungary, Romania and Latvia, with the possibility to further expand to other countries and locations.
The TXF Commodity Finance Deals of the Year awards recognise innovative and market-influencing transactions, highlighting the complexity of this deal.
The Mayer Brown team acting on the deal was led by Banking & Finance partner Ash McDermott and included counsel Angeli Sunmonu, associates Erica Arcudi and James England (all London), partner Martin Heuber, counsel Odilo Wallner and Kirsten Schürmann and associate Max Birk (all Frankfurt).
See the full list of awards here.