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Latham Advises Total on US$6.35 Billion Bridge Facility

July 20, 2020
Cross-border team represents energy provider in significant debt raising.

Latham & Watkins advised the borrower Total S.A. (Total), a major energy player present in 130 countries, on a US$5 billion committed bridge facility, arranged by BNP Paribas and Crédit Agricole Corporate and Investment Bank and the increase of that facility to US$6.35 billion through syndication.

The French law facility permits Total to have access to working capital for a 12-month period, with two possible six-month extensions permitted at the option of the borrower. 

Latham also recently advised Total in connection with a €3 billion bond offering, after acting for the oil and gas company on Sunpower’s planned spin-off transaction and the expansion of its strategic partnership with Adani Group last year.

The team was led by London finance partner John Balsdon, with Paris counsel Etienne Gentil, London associates Rachel Croft and Lisa Quelch, and Paris associate Chiraz Kmar Turki.