Watson Farley & Williams (“WFW”) advised PB Vessels Holding Ltd, a wholly owned subsidiary of Hong Kong listed dry bulk shipping company Pacific Basin Shipping Ltd, on a US$325m secured revolving credit facility in relation to the refinancing of 50 vessels extended to it by a syndicate of international banks.
This long-term facility will provide the company with access to committed funding to operate its handy-sized fleet with freedom, flexibility and ease.
The WFW Hong Kong Maritime team advising Pacific Basin was led by WFW Hong Kong Office Head and Partner Madeline Leong, supported by Senior Associate Ryan Tan and Associate Brenda Wong.
Madeline commented: “Pacific Basin is a valued client of WFW and we are delighted to have advised them on this milestone cross-border transaction which involved a large number of vessels. The commitment and support provided by the international banking community is evidence of Pacific Basin’s excellent reputation in the industry and strong business model, making them a reliable partner for such financings”.
