Herbert Smith Freehills has acted for the lenders led by BNP Paribas in connection with the increase of their financing commitments to Tullow Oil group by US$450 million, including an increase of US$ 200 million to Tullow's reserve-based lending facility and an increase of US$ 250 million to its corporate credit facility.

Finance partner William Breeze led a team out of London and Louis de Longeaux led the team from Paris.  William comments:

"This is an important deal for Tullow, allowing the company to invest in the production and development of assets in West Africa.  We were delighted to continue our relationship with BNP Paribas and the wider lender group, having previously advised the syndicate on the original reserve-based loan and corporate credit facility to Tullow and a number of increases in both facilities, as well as on a number of other financing transactions with the same parties over the past few years."

Local law advice was provided by Stibbe in the Netherlands, Cains Advocates in the Isle of Man, Ogier in Jersey, Ashurst in Australia and H.M. Moutsinga in Gabon.  Norton Rose Fulbright LLP acted for Tullow, continuing their role on previous financing transactions.