Barclays Corporate Oil & Gas witnesses a busy 2010

摘要

Barclays Corporate’s Oil and Gas team’s latest deal with Wood Group to fund a multi million dollar contract for the construction of a power station ends a busy year for the bank, with the oil and gas team providing around US $1 billion in new deals. The deal with Wood Group sees Barclays Corporate lead three banks in supplying US $220 million worth of contract bonding facilities over 36 months in relation to the construction of an 800-megawatt gas-fired power station. Barclays Corporate deployed this technique using a master risk participation agreement (MRPA) in a corporate market place, which is designed to spread the risk across a number of banks and simplify the documentation process for the client.