Black Sea Oil & Gas Secures EUR 175 Million Credit Facility
Deal News | May 16, 2025 | CEE Legal Matters
Ijdelea & Associates has successfully advised Black Sea Oil & Gas (BSOG), a company backed by The Carlyle Group, in securing a EUR 175 million syndicated credit facility. This credit is extended by a group of Romanian and international financiers and is directed towards BSOG’s ongoing projects and operations in Romania’s upstream energy sector. Popovici Nitu Stoica & Asociatii (PNSA) served as legal advisors to the lenders involved in this significant transaction. The legal teams leading this initiative comprised skilled professionals including partners and associates from both law firms. Earlier in 2023, Ijdelea & Associates also provided legal guidance to BSOG on an ambitious three-gigawatt offshore wind project in Romania, showcasing the firm's continued involvement in advancing the country's renewable energy initiatives.
Sectors
- Energy
- Financial Services
- Legal Services
Geography
- Romania – The entire transaction and the ongoing projects are centered in Romania, focusing on its energy sector development.
Industry
- Energy – The article discusses financing for an upstream energy project, specifically oil and gas as well as offshore wind projects in Romania.
- Financial Services – The article highlights the role of financial institutions extending a syndicated credit facility, demonstrating financial services involvement.
- Legal Services – The article involves legal advisory roles by two law firms, Ijdelea & Associates and PNSA, for their respective clients in a financial transaction.
Financials
- EUR 175 million – The amount of the syndicated credit facility extended to Black Sea Oil & Gas.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Black Sea Oil & Gas | Target company | Company | A company active in Romania's upstream oil and gas sector, backed by The Carlyle Group. |
| The Carlyle Group | PE firm backing BSOG | Company | A global private equity firm backing Black Sea Oil & Gas. |
| Ijdelea & Associates | Legal Advisor to BSOG | Company | A law firm providing legal advice to Black Sea Oil & Gas. |
| Popovici Nitu Stoica & Asociatii | Legal Advisor to lenders | Company | A law firm advising the lenders involved in the syndicated credit facility. |
| Consortium of Romanian and International Financial Institutions | Lenders | Company | A group providing the syndicated credit facility to Black Sea Oil & Gas. |