A&O Shearman represents NatWest in £1.1bn Sirius Minerals deal
A&O Shearman & Sterling has represented NatWest as the lead arranger and bookrunner on the £1.1 billion facility for Sirius Minerals, the fertiliser developer.
The facility is used to part-finance the development of Sirius Minerals' North Yorkshire polyhalite project, which is expected to have a 14-year mine life.
A&O partner Nishad Desai said: "This deal is a significant milestone for Sirius Minerals, enabling it to move forward with the development of its North Yorkshire project. Our team was delighted to have played a key role in facilitating this transaction."
The A&O team advising NatWest was led by Desai, with the support of partner Andrew Herring and counsel Loredana Bucur.
The deal is one of the largest ever syndicated loans in the UK and was led by a team of five banks, including NatWest, Barclays, BNP Paribas, ING and Santander.
Author's summary: Global law firm A&O Shearman & Sterling has secured a key role in a £1.1 billion deal for Sirius Minerals, a UK-based fertiliser developer. The firm's expertise played a pivotal part in facilitating the transaction, marking a significant milestone for the company.