Global law firm White & Case LLP has advised Investec Bank plc (Investec) and a syndicate of banks including National Westminster Bank Plc and Qatar National Bank (Q.P.S.C) on loan facilities to SCCL Holdings Ltd of up to £140 million.
The new loans partially refinance acquisition costs paid by Triton Power Ltd to acquire the shares of Saltend Cogeneration Company Limited (Saltend) in 2017. Further use of the facilities include a revolving debt service reserve facility and a letter of credit facility to support ongoing operational requirements of Saltend, which operates a 1,200 MW net combined cycle gas turbine power plant located in Hull, East Yorkshire, England.
"This deal further showcases our ability to advise on matters relating to the UK energy market," said White & Case partner Mark Castillo-Bernaus. "It was a testament to all parties involved that a successful financing was achieved within the timeframe."
The White & Case team in London which advised on the transaction was led by partner Mark Castillo-Bernaus and counsel Meredith Campanale, and included partners Kirsti Massie, Victoria Landsbert and Ingrid York, and associates Nic Kennedy, Katy Norman, Hiba Abdullahi and David Persaud.
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