AAG Energy Holdings Limited (“AAG” or the “Group;” stock code: 2686), a leading independent coalbed methane (CBM) producer in China, is extremely pleased to announce the Group’s landmark up to US$250m reserve-based loan transaction has won IJGlobal’s prestigious “Best Oil and Gas Deal in Asia Pacific 2015” award. The loan facility, with a six-year tenor, was the largest oil and gas financing facility in Asia entered into during the challenging business environment of 2015.
The Hongkong and Shanghai Banking Corporation Limited, Bank of Communications Ltd., Offshore Banking Unit, Standard Chartered Bank (Hong Kong) Limited, Societe Generale and Crédit Agricole acted as original lenders. Kirkland & Ellis and Herbert Smith Freehills acted as the legal advisers to AAG and the original lenders, respectively. IJGlobal is part of the world-renowned Euromoney Institutional Investor Group, whose annual awards are recognized across the industry as some of the most prestigious.
The IJGlobal Awards recognise the most innovative and significant project finance and infrastructure deals to reach financial close in 2015 throughout Asia Pacific.
This is the second award that AAG has achieved for this particular deal – the Group also garnered FinanceAsia’s Achievement Award for “Best Project Finance”. FinanceAsia noted that “given the complexity of oil and gas exploitation and refining, AAG’s securing of this loan is considered to have set new benchmarks for financing coalbed methane and unconventional energy projects in emerging markets”.
About Euromoney Institutional Investor and IJGlobal
Euromoney Institutional Investor PLC is an industry leading international business-to-business information and events group listed on the London Stock Exchange. Their portfolio includes leading brands such as Euromoney, Institutional Investor, Petroleum Economist, Mining INDABA and IJ Global among others. Its annual awards are widely recognized as one of the most prestigious in the world of finance and in each respective industry.
IJGlobal is the industry-leading multimedia platform created from the integration of Project Finance Magazine & Infrastructure Journal. The IJGlobal Awards celebrate the best deals in energy and infrastructure over the past year, and recognise the companies that played vital roles in those transactions. The IJGlobal Awards recognise the most innovative and significant deals to reach financial close in 2015 throughout Asia Pacific.
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