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Bracewell Represents Wells Fargo Bank in Acquiring BNP Paribas Energy Lending Unit
February 28, 2012
Bracewell & Giuliani LLP is representing Wells Fargo Bank in its purchase of the energy lending unit of BNP Paribas. Wells Fargo will acquire $9.5 billion of total loan commitments, including $3.9 billion in funded balances.
Around 90 percent of the reserve- based and related diversified energy lending portfolio is U.S.-based, with the remainder primarily located in Canada.
The firm served as oil and gas lending counsel to Wells Fargo and undertook due diligence on the portfolio. Bracewell will also craft the documentation for the loan and agency transfers.
