Holman Fenwick Willan has advised the Dubai-headquartered oilfield services firm Topaz Energy and Marine on its obtaining of a $550 million loan from consortium of banks led by Standard Chartered Bank and HSBC, with Dentons advising the lead arrangers.

The $550 million conventional and Islamic multi-tranche facility, arranged over three tranches lasting between five and seven years, will be used principally to refinance existing debt and fund its expansion plans.

The Holman Fenwick Willan team was, led by partner Tien Tai, while the Dentons team was lead by Paul Jarvis, asset finance partner and head of banking in the Middle East.

The other banks in the consortium were Gulf International Bank, Emirates NBD, Noor Bank and First Gulf Bank.