Simpson Thacher Represents Lenders in 3R Petroleum $500 Million Term Loan
08.08.22
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The Firm recently represented a group of lenders led by Morgan Stanley Senior Funding Inc. in connection with an up to $500 million senior secured term loan facility made available to 3R Lux, a subsidiary of Brazilian oil and gas company 3R Petroleum Óleo e Gás S.A. The proceeds of the loan will be used to fund the acquisition of the Potiguar Cluster of oil and gas producing fields as well as private-use terminal, refinery and storage assets in the Potiguar Basin in the northeastern state of Rio Grande do Norte. The facility was subsequently successfully disbursed in June 2023.
3R Petroleum is one of the largest B3 listed independent oil and gas producers in Latin America, whose main strategy is focus is the redevelopment of mature oil and gas fields.
The Simpson Thacher team included Jaime Mercado, Grenfel Calheiros, Paulo Cardoso, Jomar Vargas, Raissa Fini, Susan Uquillas and Julia Pinheiro (Credit); Jonathan Cantor and Preston Irace (Tax); and Andrew O’Brien (Executive Compensation and Employee Benefits).