Canlin Energy Corp. enters into a syndicated credit agreement
September 29, 2017
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).