Wragge & Co's energy and infrastructure finance experts have advised Nedbank on a €20 million reserve-based lending facility for Italian exploration and production company, Po Valley Energy.

Partner Kieron Dwyer said: "Our work on this transaction demonstrates our ability to advise leading lenders in the upstream oil and gas industry on significant exploration and production transactions, particularly in key European markets. The team's understanding of the energy sector and experience of working on similar upstream oil and gas transactions meant it was well placed to advise on this transaction."

Director Joe Levin added: "We have worked closely with the upstream oil and gas team at Nedbank for some time and are able to work as an extension of its team. Securing this latest deal strengthens our relationship with the bank as it grows into a big player in the upstream oil & gas space."

Kieron Dwyer led the team, which included Joe Levin and solicitors Cameron Houston and Tom Gray. Tax associate Patrick Allan also advised. The team worked closely with Nedbank's oil & gas principal, Gido Van Graas, in-house counsel Glen Corbett and chief financial officer at Po Valley Sara Edmonson.

Gido van Graas said: "We are delighted to have had the opportunity to support Po Valley in this landmark transaction. In addition it was a great pleasure to partner once again with Kieron and his team. Wragge & Co delivered excellent work under great pressure contributing significantly to the successful closing of this transaction."

Sara Edmonson added: "We are pleased to have secured a relationship with Nedbank at a time when Po Valley is gearing up for the most important operational step change in its history. The new facility will allow us to fund the next stage of the company's growth in relation to its expanding portfolio of hydrocarbon assets in northern Italy. We look forward to a long and productive relationship with the bank and in particular with the professionals in the Oil and Gas team. The transaction also gave us the opportunity to work with the Energy and Infrastructure team at Wragge & Co led by Kieron Dwyer. Their exceptional support and insight throughout the transaction was of the highest quality."

One of the four largest banks in South Africa, Nedbank has more than six million clients and employs more than 28,000 people. This is the second oil and gas deal that Wragge & Co has advised the bank on this year. In April the firm advised a consortium of banks, including Nedbank, on a reserve-based lending facility worth up to $500 million.

Po Valley is an oil and gas producer and exploration company listed on the Australian Stock Exchange. It has an expanding portfolio of hydrocarbon assets in northern Italy.

Experienced in upstream oil and gas sector transactions, Wragge & Co's energy and infrastructure finance specialists advise on acquisitions and disposals, and portfolio, project, development and borrowing base financings. Its clients include international, local and multilateral lenders.

They are part of a cross-firm, sector-focused Energy team, which also includes experts in regulatory, construction, corporate, real estate, environmental and planning matters. Legal 500 2012 praised the team's "excellent, and increasingly international" practice as well as its "superb service".

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