Clifford Chance has advised International Petroleum Investment Company P.J.S.C. (“IPIC“) in relation to its Global Medium Term Note Programme, which was established on 1 November 2010. The inaugural issuance of U.S.$1,000,000,000 3.125 per cent notes due 2015 and U.S.$1,500,000,000 5.00 per cent. notes due 2020 (the “Notes“) took place on 15 November 2010. The Notes were admitted to trading on the London Stock Exchange. The programme will enable IPIC to raise finance in the international capital markets in order to fund its general corporate activities.
Christopher Walsh, Partner commented: “Clifford Chance is delighted to have assisted IPIC with their first ever securities offering into the international public capital markets. The success of this trade is a further great sign of the confidence that international investors have in the company, Abu Dhabi institutions and the Abu Dhabi economy.”
Clifford Chance through its U.A.E. offices and London offices advised IPIC on the transaction. The IPIC legal team was led by Christopher Walsh, Partner in the U.A.E., who was assisted by Stuart Ure, Catherine Wilson and James Cranston. Robert Trefny, U.S. Securities Partner in London, and Arthur Levi, led the team on U.S. securities advice.
Goldman Sachs International acted as Arranger and Dealer, with BofA Merrill Lynch, HSBC, National Bank of Abu Dhabi, Standard Chartered Bank and The Royal Bank of Scotland as Dealers on the programme.
Related Posts:
- None Found