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Transaction/Case Details

Canlin Energy Corp. enters into a syndicated credit agreement

DATE CLOSED

September 29, 2017

BUSINESS SECTOR

Oil & Gas

LEAD OFFICE

Calgary


OVERVIEW

On September 29, 2017, Canlin Energy Corporation ("Canlin") completed the acquisition of Centrica plc's majority-owned Canadian oil and gas exploration and production business by way of sale of 100 per cent of the partnership interests of CQ Energy Partnership ("CQ Energy") for C$722 million (£413 million) in cash. CQ Energy was a joint venture of Centrica plc and a Middle East state-owned enterprise. Canlin is a consortium of two Hong Kong-based companies (MIE Holdings Corporation and Can-China Global Resource Fund) and Geneva-based Mercuria Energy Group.

To fund the transaction, Canlin entered into a syndicated credit agreement providing for certain credit facilities.

McCarthy Tétrault LLP advised Canlin on the syndicated credit agreement with a team that included Cameron Hughes (Corporate), and Peter Birkness and Audrey Bouffard-Nesbitt (Financial Services).

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