< Back to insights hub

Press

WFW advised Credit Agricole on US$91m financing for Landbridge leased VLCCs14 June 2019

Watson Farley & Williams (“WFW”) advised Credit Agricole Asia Shipfinance Limited (“Credit Agricole”) as facility agent on a US$91m term loan facility to a subsidiary of investment firm Sole Shipping Group (advised by Nordisk Legal Services) for the financing of two VLCCs (and scrubbers). The ships will be bareboat chartered to Hong Kong-based Landbridge group, with the leases arranged by Pareto Securities. The lenders were Crédit Agricole Corporate and Investment Bank and BNP Paribas.

The WFW Hong Kong Maritime team advising on the transaction was led by Partner and Office Head Madeline Leong, supported by Valerie Lee and Lee Siu Ting.

Madeline commented: “We are extremely pleased to have worked on this transaction, which represents a trend towards more structured financings involving new players in the Asian maritime markets such as investment firms. Advising on this matter required experience and expertise in maritime financing and leasing and which we were able to bring to bear on our client’s behalf to facilitate and contribute towards its successful closing”.


DOWNLOAD PDF

Share this Page

< Back to insights hub

Media enquiries