Contact details

Gregg Johnston

T: +65 6226 1600 Email Gregg | Vcard Office: Singapore

Awards

Leading Individual for Asset finance: Foreign firms / Shipping: Foreign firms

Leading Individual for Asset finance: Foreign firms / Shipping: Foreign firms

Leading individual for Shipping International Finance - International Firms - Singapore

Leading individual for Shipping International Finance - International Firms - Singapore

Gregg Johnston Partner

Contact details

Gregg Johnston

Gregg Johnston
Partner

T: +65 6226 1600 Email Gregg | Vcard Office: Singapore

Gregg is a partner and head of the shipping and offshore finance team in Singapore, a team top ranked by Chambers Asia Pacific and classified top tier by The Legal 500 Asia Pacific. He has been practising in Singapore for 14 years and over that time he has built a strong reputation in the Asia Pacific region for shipping and offshore finance work.
  • Profile
  • Services
  • Sectors
  • Locations

Gregg specialises in all facets of shipping and offshore financing including secured and unsecured lending, syndicated and bilateral loans, limited recourse and sale and leaseback structures, guarantee and letter of credit facilities, restructuring and workouts, tax-driven structured financings, export credit backed facilities, leasing transactions, container box financing, loan portfolio sales and enforcement work. He also acts on ship sale and purchase, joint ventures, charter party backed financings and newbuilding projects.

Gregg's clients range from international banks, alternative financiers (including funds), export credit agencies, ship owners and other corporates.

As a result of being in the region for so long, Gregg has a deep understanding of the issues related to financing vessels flagged in Singapore, Hong Kong, Korea, Labuan, Malaysian, Indonesia, Philippines, Vietnam, Thailand and India. He is a regular speaker at industry conferences and is regularly approached by the media to comment on shipping related topics.

He is ranked as a leading individual by Chambers Asia Pacific and The Legal 500 Asia Pacific. Gregg was also ranked one of the brightest legal minds under 40 in Asia by Asia Legal Business in their September 2015 issue.

"Banks listen to him and he knows how to get a deal done."
Chambers Asia Pacific 2015

  • Ship and offshore finance
  • Restructuring and insolvency
  • Finance

BW LPG Holdings Limited 

Advising BW LPG Holdings Limited on a US$400 million syndicated multi-tranche ECA backed facility for the purchase of 7 very large gas carriers under construction in Korea by Hyundai Heavy Industries.

DNB Bank

Advising DNB Bank on a US$600 million syndicated pre and post-delivery financing to Hyundai Merchant Marine for the acquisition of five mega container vessels including drafting and agreeing senior loan terms, junior loan terms / subordinated loan terms, all related security documentation and all inter-creditor agreements.

ING Bank N.V., Singapore Branch

Advising ING Bank N.V., Singapore Branch on a pre and post-delivery US$344 million syndicated multi-tranche K-sure backed facility to 3 subsidiaries of a joint venture. This was between a Singapore-based owner and a US-listed owner for the purchase of three mega containerships under construction at a Korean yard.

The Export-Import Bank of Korea

Assisting KEXIM as senior lender on the first eco-ship fund related subordinated financing for a major Korean shipping company.

International Swiss bank

Advising an international Swiss bank on a US$107 million syndicated multi-tranche 'hunting' facility for the purchase of 4 unspecified vessels.  A distinctive feature of this facility was that the shipping company could nominate the vessels to be acquired post signing. 

ICON Investments

Advising ICON Investments on a US$153 million leveraged sale and leaseback of three pipe laying construction barges involving Leighton Holdings.

More: Ship and offshore finance

Spin-off followed by equity investment

Advising a syndicate of banks on the restructuring of a US$256 million loan facility to subsidiaries of a Korean shipping company in connection with a private equity fund's purchase of the shipping company's bulk business to a new joint venture company.

Pan Ocean rehabilitation proceedings

Advising numerous international and Korean banks on various facilities impacted by Korean rehabilitation proceedings in respect of Pan Ocean Co., Ltd.

KLC rehabilitation proceedings

Advising ECAS and numerous international and Korean banks on various facilities impacted by Korean rehabilitation proceedings in respect of KLC.

Consensual asset disposal

Advising various international banking syndicates on vessel and newbuilding contract disposals conducted on a consensual basis with a ship owner in distress.

Enforcement

Acting for the agent and security agent on various financing facilities involving the arrest and judicial sale of vessels.

Additional security

Acting on behalf of the agent on numerous financings involving the provision of additional security to satisfy pre-existing loan to value maintenance covenants including, without limitation, share security over listed shares held on a custodial basis

More: Restructuring and insolvency

Loan portfolio transfer

Acting as lead counsel to an international bank in connection with the sale and transfer of its loan portfolio to a merchant bank including the transfer of all loan participations and commitments, securities and the replacement of agency and security agency functions.

ING Bank N.V., Singapore Branch

Advising ING Bank N.V., Singapore Branch on a pre and post-delivery US$344 million syndicated multi-tranche K-sure backed facility to 3 subsidiaries of a joint venture between a Singapore-based owner and a US-listed owner for the purchase of three mega containerships under construction at Korean yard.

The Export-Import Bank of Korea

Assisting KEXIM as senior lender on the first eco-ship fund related subordinated financing for a major Korean shipping company.

International Swiss bank

Advising an international Swiss bank on a US$107 million syndicated multi-tranche 'hunting' facility for the purchase of 4 unspecified vessels. 

More: Finance

  • Shipping
  • Offshore
  • Banks and banking

US$1 Billion of financing

Advising a joint venture between a well known Singapore based ship owner and a Hong Kong based private equity on commercial bank and ECA financing facilities of up to US$1 billion used to finance or refinance 30 Tanker vessels.

International Swiss bank

Advising an international Swiss bank in respect of a US$158 million facility made available for the financing of up to eight vessels, a combination of LPG and chemical tankers, each on long term bareboat charters.

DNB Bank

Advising DNB Bank on a US$600 million syndicated pre and post-delivery financing to Hyundai Merchant Marine for the acquisition of five mega container vessels including drafting and agreeing senior loan terms, junior loan terms / subordinated loan terms, all related security documentation and all inter-creditor agreements.

The Export-Import Bank of Korea

Advising KEXIM on a US$86 million financing to subsidiaries of a Korean shipping company to part refinance four Supramax vessels.

DVB Group Merchant Bank (Asia) Ltd

Advising DVB on a US$90 million debt financing to a Singapore based container ship operator for the refinance of six container ships and forming part of a larger private equity transaction led by a well-known US based investment bank.

Nordea Bank

Advising Nordea Bank on a US$325 million syndicated pre and post-delivery financing for the acquisition and refinancing of six VLCCs, including drafting and agreeing senior loan terms and all related security documentation.

More: Shipping

Fleet financing

Advising a club of banks on various syndicated financings related to a fleet of offshore support vessels owned by a Singapore subsidiary of a Norwegian listed company.

Derrick Lay barge

Advising a syndicate of international banks on pre and post-delivery financing of a Derrick Lay Barge.

Conversion financing

Acting for a New York based equity fund in respect of the modification and conversion of an offshore barge and the financing raised to fund the same.

ICON Investments

Advising ICON Investments on a US$153 million leveraged sale and leaseback of three pipe laying construction barges involving Leighton Holdings.

Singapore branch of a Dutch merchant bank

Advising the Singapore branch of a Dutch merchant bank on a US$80 million financing for the acquisition of four offshore supply vessels by the Singapore subsidiary of an Indian trading company.

ICON Investments

Advising Icon Investments on a sale and leaseback involving DVB Group Merchant Bank (Asia) Ltd as senior lender for Pacific Radiance's vessel, "Crest Olympus".

Singapore branch of a German bank

Advising the Singapore branch of a German bank on proposed US$16 million project financing of a seismic survey vessel operating in the North Sea.

More: Offshore

Loan portfolio transfer

Acting as lead counsel to an international bank in connection with the sale and transfer of its loan portfolio to a merchant bank including the transfer of all loan participations and commitments, securities and the replacement of agency and security agency functions.

The Export-Import Bank of Korea

Advising KEXIM on a US$86 million financing to subsidiaries of a Korean shipping company to part refinance four Supramax vessels.

US$1 Billion of financing

Advising a joint venture between a well know Singapore based ship owner and a Hong Kong based private equity on commercial bank and ECA financing facilities of up to US$1 billion used to finance or refinance 30 Tanker vessels.

DNB Bank

Advising DNB Bank on a US$600 million syndicated pre and post-delivery financing to Hyundai Merchant Marine for the acquisition of five mega container vessels including drafting and agreeing senior loan terms, junior loan terms / subordinated loan terms, all related security documentation and all inter-creditor agreements.

Nordea Bank

Advising Nordea Bank on a US$325 million syndicated pre and post-delivery financing for the acquisition and refinancing of six VLCCs, including drafting and agreeing senior loan terms and all related security documentation.

International Swiss bank

Advising an international Swiss bank in respect of a US$158 million facility made available for the financing of up to eight vessels, a combination of LPG and chemical tankers, each on long term bareboat charters.

ING Bank N.V., Singapore Branch

Advising ING Bank N.V., Singapore Branch on a pre and post-delivery US$344 million syndicated multi-tranche K-sure backed facility to 3 subsidiaries of a joint venture. This was between a Singapore-based owner and a US-listed owner for the purchase of three mega containerships under construction at a Korean yard.

Syndicate of banks

Advising a syndicate of banks on the restructuring of a US$256 million loan facility to subsidiaries of a Korean shipping company in connection with a private equity fund's purchase of the shipping company's bulk business to a new joint venture company.

DVB Group Merchant Bank (Asia) Ltd

Advising DVB on a US$90 million debt financing to a Singapore based container ship operator for the refinance of six container ships and forming part of a larger private equity transaction led by a well-known US based investment bank.

More: Banks and banking
  • Korea

Spin off followed by equity investment

Advising a syndicate of banks on the restructuring of a US$256 million loan facility to subsidiaries of a Korean shipping company in connection with a private equity fund's purchase of the shipping company's bulk business to a new joint venture company.

Pan Ocean rehabilitation proceedings

Advising numerous international and Korean banks on various facilities impacted by Korean rehabilitation proceedings in respect of Pan Ocean Co., Ltd.

KLC rehabilitation proceedings

Advising ECAS and numerous international and Korean banks on various facilities impacted by Korean rehabilitation proceedings in respect of KLC.

BW LPG Holdings Limited 

Advising BW LPG Holdings Limited on a US$400 million syndicated multi-tranche ECA backed facility for the purchase of 7 very large gas carriers under construction in Korea by Hyundai Heavy Industries.

The Export-Import Bank of Korea

Assisting KEXIM as senior lender on the first eco-ship fund related subordinated financing for a major Korean shipping company.

ING Bank N.V., Singapore Branch

Advising ING Bank N.V., Singapore Branch on a pre and post-delivery US$344 million syndicated multi-tranche K-sure backed facility to 3 subsidiaries of a joint venture between a Singapore-based owner and a US-listed owner for the purchase of three mega containerships under construction at Korean yard.

The Export-Import Bank of Korea

Advising KEXIM on a US$86 million financing to subsidiaries of a Korean shipping company to part refinance four Supramax vessels.

Syndicate of banks

Advising a syndicate of banks on the restructuring of a US$256 million loan facility to subsidiaries of a Korean shipping company in connection with a private equity fund's purchase of the shipping company's bulk business to a new joint venture company.

More: Korea

Awards

Leading Individual for Asset finance: Foreign firms / Shipping: Foreign firms

Leading Individual for Asset finance: Foreign firms / Shipping: Foreign firms

Leading individual for Shipping International Finance - International Firms - Singapore

Leading individual for Shipping International Finance - International Firms - Singapore

Latest news & insights

11 Apr 2016

From News

Stephenson Harwood (Singapore) Alliance advises on US$216 million K-Sure backed post-delivery financing for FSRU BW Singapore

International law firm Stephenson Harwood (Singapore) Alliance, advised a subsidiary of BW Gas on an export credit agency backed US$216 million post-delivery financing..

More

print-footer
logo
© Stephenson Harwood LLP 2016. Any reference to Stephenson Harwood in this document means Stephenson Harwood LLP and/or its affiliated undertakings. Any reference to a partner is used to refer to a member of Stephenson Harwood LLP.