Amur Gas Chemical Complex’s $9.1 Billion Financing

In UK White & Case, advised on the matter.

White & Case advised SIBUR Holding, Sinopec – China Petroleum & Chemical Corp. with a team including Mark Castillo-Bernaus (Picture – Project).

Amur Gas Chemical Complex is one of the world’s largest and most advanced polymer production facilities.

The Amur GCC project, set for launch in 2024, will produce 2.3 million tonnes of polyethylene and 400,000 tonnes of polypropylene a year. The project company is a joint-venture (JV) between SIBUR and China Petroleum & Chemical Corporation (Sinopec) acting as the project sponsors.

The financing, which signed in December 2021, was provided by a large syndicate of banks and included a Russian commercial bank uncovered tranche, a Chinese commercial bank uncovered tranche, and an international commercial bank covered tranche (benefitting from cover from certain European Export Credit Agencies).

SIBUR is the largest integrated petrochemicals company in Russia and one of the fastest-growing companies in the global petrochemicals industry.

China Petroleum & Chemical Corporation is a China-based energy and chemical company. The Company’s segments include Exploration and Development segment, Refining segment, Marketing and Distribution segment, Chemicals segment, and Corporate and Others segment. 

The White & Case team that advised on the transaction was led by partners Mark Castillo-Bernaus (Picture; London) and Natalia Nikitina (Moscow) and included partners Irina Dmitrieva (Moscow) and Michael Watson (London) and associates Azamat Gaisenov and Elizaveta Volkodav (both Moscow), Alex Field and Juanita Derex Briggs (both London) and Tianren Liu (Beijing).

Involved fees earner: Mark Castillo-Bernaus – White & Case; Juanita Derex-Briggs – White & Case; Irina Dmitrieva – White & Case; Alex Field – White & Case; Azamat Gaisenov – White & Case; Tianren Liu – White & Case; Natalia Nikitina – White & Case; Elizaveta Volkodav – White & Case; Michael Watson – White & Case;

Law Firms: White & Case;

Clients: SIBUR Holding; Sinopec – China Petroleum & Chemical Corp.;

Author: Giulia Di Palma