Slaughter and May advised Wood Group in relation to its US$2.75bn pre-bid refinancing

Slaughter and May advised Wood Group in relation to the US$ 2.75 billion of committed syndicated term and revolving credit facilities (comprising a US$ 1 billion three year term loan facility and a US$ 1.75 billion five year revolving credit facility), put in place in anticipation of Wood Group’s recommended all-share offer to acquire Amec Foster Wheeler.

 

The new facilities are expected to be applied to refinance in full and replace Wood Group’s existing bilateral revolving credit facilities and, following completion of the acquisition, Amec Foster Wheeler’s existing syndicated term and revolving credit facilities. The new facilities were underwritten by BNP Paribas, HSBC, J.P. Morgan, Lloyds and RBS (trading as NatWest Markets) and are expected to be syndicated to a wider group of lenders, including existing lenders to Wood Group and Amec Foster Wheeler as well as new lenders.

Matthew Tobin Partner
Harry Bacon Partner
Alistair Stark Associate
Mike Lane Partner