Société Générale/Mercuria and Caracal Awarded Deals of the Year 2014 by Trade Finance

HOUSTON – Société Générale’s secured borrowing base revolving credit facility for Mercuria Energy Trading and Caracal Energy’s reserved based financing were both named Deals of the Year 2014 by Trade Finance. The Société Générale/Mercuria transaction was honored in the Americas region (North America), while Caracal was a Middle East and Africa winner.

Bracewell & Giuliani represented Société Générale, as lead arranger, to Mercuria Energy Trading on an approximately $3 billion secured commodity borrowing base revolving credit facility for working capital purposes and the acquisition of JP Morgan and Co.’s North American commodity book.

Bracewell attorneys that advised on this matter include:
Partners: Robin J. Miles and Nancy Jo Nelson
Associates: Jeris D. Brunette, Katherine L. Lindsay, and Jon M. English

Bracewell’s London-based team acted for Caracal Energy (now Glencore), as borrower, in its up to $250 million secured financing arranged by Natixis and Société Générale for the development of two onshore oil fields located in Southern Chad. This represented the first reserved based financing transaction in Chad.

Bracewell attorneys that advised on this matter include:
Partners: Olivia Caddy and Ben James
Associates: Heidi Keville, Nicholas J. Kendrick and Luka Pavlovic

Trade Finance, a publication of Euromoney Institutional Investor PLC, annually recognizes innovation and achievement in the trade finance market with its Deals of the Year awards.