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BROWSE ABOUT USInternational law firm Ashurst is advising Ophir on the increase of its existing reserve based lending facility ('RBL') from US$250 million to US$350 million and the extension of its maturity by 18 months.
The increase follows the completion of the acquisition of certain Southeast Asian assets from Santos Limited. The increased and extended RBL will be secured against the group's acquired producing assets in Southeast Asia, including Chim Sao field in Vietnam and the producing fields in the Madura and Sampang PSCs in Indonesia.
Proceeds from the RBL increase will be used to fully repay the 18 month bridge facility that Ophir signed in August this year to partly fund the acquisition of a package of production and development assets from Santos.
The Ashurst team was led by oil and gas financing partner Huw Thomas, assisted by associates Nicole Lim and Grahame Fischer. Partner Kerion Ball advised on hedging.
The Ashurst team worked closely with Ophir's general counsel, Philip Laing and senior legal counsel, James Russell-Jones.
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