Slaughter and May advised INEOS FPS Limited on the amendment and restatement of its term loan and revolving credit facilities agreement

Slaughter and May advised INEOS FPS Limited (“FPS”), owners of the Forties Pipeline System, on the refinancing of its term loan and revolving credit facilities agreement (the “Facilities Agreement”). The amended and restated Facilities Agreement extends the maturity of the facility by two years, with the Facility Agreement now maturing at the end of December 2027.

The Forties Pipeline System is an integrated oil and gas liquid transportation and processing system serving the central area of the North Sea and is capable of processing over six hundred thousand barrels per day. It has played a major role in the development of the Central North Sea.