Restructuring and insolvency
Scheme of arrangement
Advising Nordea in connection with a scheme of arrangement sought but Solstad in respect of a double merger and financial structuring of various global facilities.
Distressed debt disposal
Assisting a corporate with the disposal of a drilling rig following a consensual agreement with lenders to sell. Advising in connection with a complex settlement agreement as between the borrower and certain subsidiaries, senior lenders, junior lenders and certain trade creditors.
OSV distressed sale and purchase
Assisting DVB in connection with OSV distressed sale and purchase.
Rickmers
Assisting a bank in connection with the transfer of agent and trustee functions.
Leasing and equipment finance
JOLCO
Assisting BNP Paribas connection with a sale and lease back structured as a JOLCO involving the Japanese leasing company NTT and the international shipping company PIL.
Container financing
Advising ING Bank on the structuring and documentation of a multi-tiered debt US$162 million KOBC guarantee backed financing. This financing involved senior, mezzanine and junior tiers of debt, limited recourse for senior lenders, as well as complex security interest and intercreditor considerations. It required KOBC support in the form of a KOBC guarantee in favour of the mezzanine lenders and the incorporation of a KOBC special purpose vehicle. It also included the sale-purchase and lease-back of 21,870 high cube and cargo marine containers to Hyundai Merchant Marine Co. Ltd, with a subsidiary of CAI International Inc. acting as collection agent and container manager for ING.
Sale and purchase of diving bell
Acting for ICON (US private equity firm) in connection with the sale and purchase of diving bell.
Project finance
Limited recourse US$162 million ECA backed financing
Advising ING Bank on the structuring and documentation of a structured multi-tiered debt US$162 million KOBC guarantee backed financing. This financing involved senior, mezzanine and junior tiers of debt, complex security interest and intercreditor considerations, ECA support in the form of a KOBC guarantee in favour of the mezzanine lenders, the incorporation of a KOBC special purpose vehicle, the sale and lease-back of 21,870 high cube and cargo marine containers to Hyundai Merchant Marine Co. Ltd and a subsidiary of CAI International Inc. acting as collection agent and container manager for ING.
Limited recourse financing
Advising an international syndicate of banks in connection with a US$178 million limited recourse facility to a Korean investment fund. This involved advising lenders on taking security interests in and step-in over a long-term charter with an oil major.
Listed share margin call RCFs
Advising a corporate in respect of US$375 million of corporate finance revolving credit facilities backed by listed shares on a margin call basis.
BW Gas
Advising BW Gas on a limited recourse US$180 million post-delivery facility from a syndicate of international banks, led by Société Générale. The transaction is innovative in that it used a "hybrid" or "capped" guarantee.
Corporate
Quiet enjoyment / step-in
Advising a syndicate of international lenders in connection with taking an effective security interest over a long-term charter with an international oil major. This involved significant negotiation in respect of quiet enjoyment and step-in.
Nordea re-domiciliation / universal succession
Advising on a cross border consolidation including, amongst other things, the impact of the consolidation on the security and the requirements in the financing documents related to mergers. This involved dealing with a wide range of different jurisdictions in consultation with foreign counsel and reviewing the position for various types of facilities (term loan, revolving credit and ECA backed facilities etc) and structures (syndicated, bilateral and participation loans).
LNG-to-gas onshore and offshore oil and gas project financing
Advising a company in connection with its participation in a LNG-to-gas onshore and offshore oil and gas project financing. This involved advising on the joint development agreement, investment principles, project accession documentation, shareholder agreements and a long term operation and maintenance agreement in connection with the FSRU.
Paragon restructure
Advising Paragon on a restructure its group.
Quantum Pacific
Advising Quantum Pacific in connection with a complex LQE with step-in and substitution rights relating to an ING / BoCom financing.
Finance
Listed share margin call RCFs
Advising a corporate in respect of US$375 million of corporate finance revolving credit facilities backed by listed shares on a margin call basis.
US$180 million bridge facility
Advising a corporate in connection with a US$180 million bridge facility.
Quantum Pacific
Advising KfW-IPEX Bank on a US$72 million GIEK backed "green loan" financing to Quantum Pacific Shipping for the purchase and installation of scrubbers. The innovative structure sets a useful precedent for future ECA backed scrubber financings. Jeffrey acted as lead associate on this matter.
Bridge loan
Advising a corporate in connection with a US$350 million bridge facility.
Ship and offshore finance
BW Pacific US$676 million financing
Acting for a BW Pacific on a refinancing of a US$676 million multi-tranche and revolving credit facility in relation to 29 vessels to be advanced by a syndicate of international banks (operating though their Singapore branches).
New York Fund
Advising a New York based fund on US$104 million financing of a US$154 million new-build offshore accommodation jack-up-rig. The financing was provided by a Chinese lender and was Sinosure backed. The rig was chartered to Maersk.
Solstad fleet refinancing
Advising Nordea in connection with a US$1.5 billion 41 vessel fleet refinancing to Solstad.
Quantum Pacific
Acting for ING on a pre and post-delivery US$344 million multi-tranche ECA backed facility to three subsidiaries of a joint venture for the purchase of three containerships under construction in Korea by Samsung Heavy Industries Co., Ltd..
BW LPG
Advising BW LPG on a US$400 million syndicated multi-tranche ECA backed facility for the purchase of seven very large gas carriers under construction in Korea by Hyundai Heavy Industries.