March 28, 2019
IJGlobal has named PT Medco Energi Internasional Tbk.’s (“MedcoEnergi”) US$500 million six-year secured revolving reserve-based lending (RBL) facility as the 2018 Asia Pacific Upstream Oil & Gas Deal of the Year at its annual IJGlobal Awards, held on March 28, 2019.
Gibson Dunn advised MedcoEnergi subsidiaries, PT Medco E&P Malaka and PT Medco E&P Tomori Sulawesi as borrowers, and MedcoEnergi as sponsor on the deal. The US$500 million six-year secured revolving reserve-based lending (RBL) facility was originally arranged by the mandated lead arrangers and bookrunners, Australia and New Zealand Banking Group, ING Bank and Société Générale, for the refinancing of existing RBL financings for the development of Aceh Block A gas fields in Sumatra and the investment and development of South Natuna Sea Block B gas fields in Indonesia. The Gibson Dunn team was led by Jamie Thomas and assisted by U-Shaun Lim.