Energy Risk Deals of the Year 2012: Lloyds's financing for Essar

Lloyds’s $1.5bn secured borrowing base facility for Essar Energy

Energy Risk - Deals of the Year 2012

At a challenging time for the European refinery sector, Lloyds Bank helped organise working capital finance to support Essar Energy’s strategic purchase of its first UK-based refinery.

The deal, which took around five months to arrange, comprised a three-year $1.5 billion secured revolving facility for the operation of Stanlow refinery at Ellesmere Port in northwest England, purchased from Shell in July 2011. Lloyds was one of six original mandated lead arrangers (MLAs) on the deal, which was

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