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Success for A&O in the TXF Perfect 10 awards

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02 June 2020

Allen & Overy has picked up a pair of trophies at the TXF Perfect 10 awards, which took place in a virtual ceremony on 29 May. Both of the successes came in the trade and commodity finance category, with A&O recognised for Asia Commodity Finance Deal of the Year and Energy Commodity Finance Deal of the Year. 

The TXF Perfect 10 awards recognise the year’s truly market-leading deals and select only 10 winning deals per industry. 

The Asia Commodity Finance Deal of the Year award recognised the work of the A&O team in Paris led by partner Adrian Mellor and senior associate Tristan Jambu-Merlin advising Duferco’s lenders in the prepayment deal worth up to USD750 million for India’s JSW Steel which closed in March 2019. 

On receiving the award, Adrian Mellor commented: “This deal reflects how the global footprint of A&O is valuable in the world of trade and commodity finance where jurisdictions spanning half the world are brought together under one transaction.”

Commenting on the JSW Steel financing, the TXF judges said: “A structure not often seen in the steel industry, this facility looks set to serve as a financing template for future deals.”

Meanwhile, the Energy Commodity Finance Deal of the Year award recognised Allen & Overy for its work advising a syndicate of lenders to arrange an aggregate of USD750 million financing to be utilised for advance payment for oil and oil products with Nayara Energy Limited in April 2019. The A&O team working on the deal in Singapore was led by partner Jason Humphreys. 

The TXF judges noted: “Nayara Energy’s USD750 million four-year pre-payment financing is the company’s first ever deal of this structure, and the first of its kind for an Indian corporate.”