28 January 2013
Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised both export finance bank KfW IPEX-Bank and The Export-Import Bank of China on a US$75m term loan facility to J. Lauritzen A/S.
The loan will be used to part-finance the acquisition of three 50,200 dwt chemical/product oil tankers under construction at Guangzhou Shipyard, China and for delivery to J. Lauritzen A/S’s product tanker group.
The loan will be funded 50:50 by KfW IPEX-Bank and The Export-Import Bank of China and additionally has the benefit of a Sinosure buyer’s credit insurance policy.
The WFW team was led by London asset finance partner Nigel Thomas with associate Patrick Smith. Nigel Thomas said: “We were very pleased to assist KfW IPEX-Bank on another deal highlighting its role as one of the core lenders to the J. Lauritzen group, and also very happy to help build the strategic relationship between The Export-Import Bank of China and J. Lauritzen.”