Global law firm Clifford Chance has advised BNP Paribas on the conclusion of a €600 million revolving credit facility for Open Grid Europe GmbH and Vier Gas Transport GmbH. The term of the facility is five years and this may be extended by up to another two.

The financing was provided by an international banking syndicate coordinated by BNP Paribas and Commerzbank. BNP Paribas also acted as documentation agent, Commerzbank has been appointed as agent.

The Clifford Chance team advising BNP Paribas comprised partner Simon Reitz, counsel Christoph Nensa and associate Marcel Knörchen (all Frankfurt, all Global Financial Markets), as well as partner Olaf Mertgen and senior associate Steffen Waadt (both Tax, Frankfurt).