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03 Apr 2024

Stephenson Harwood (Singapore) Alliance advises BNP Paribas on sustainability-linked JOLCO Financing

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Stephenson Harwood has advised BNP Paribas (BNPP) in relation to the financing of two sustainability-linked loan Japanese Operating Leases with Call Options (SLL JOLCOs). The SLL JOLCOs were provided to the Wisdom Marine Group in respect of two bulk carriers.

Stephenson Harwood acted for BNPP in its capacity as lender, agent, security agent and sustainability advisor.

The SLL JOLCOs include a sustainability-linked margin adjustment with a key performance indicator linked to the reduction of fleet emissions. This aligns with Wisdom Marine Group’s sustainability commitment and goals.

The Stephenson Harwood team was led by Singapore-based partner Pedram Norton, who was supported by associate Yin Ling Ng. Further Hong Kong law advice was provided by Stephenson Harwood Hong Kong-based partner Elton Chan, who was supported by associate Diana Liu.

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