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06 Apr 2021

Stephenson Harwood (Singapore) Alliance advises Hafnia on US$374 million term loan and revolving credit facility

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Law firm Stephenson Harwood (Singapore) Alliance has advised long-standing client, Hafnia Limited, in relation to a US$374 million sustainability-linked term loan and revolving credit facility. The facility is provided by a syndicate of ten banks, led by Standard Chartered Bank.

Oslo-listed Hafnia, which forms part of the BW Group, is a global oil product tanker owner and operator, and controls a fleet of approximately 180 vessels.

The new loan facility represents Hafnia's first syndicated sustainability-linked loan, and is one of the largest of its kind in the shipping sector. It contains a bespoke margin adjustment mechanism, which is based on emission related key performance indicators (KPI). These KPIs factor in the Poseidon Principles and the International Maritime Organisation's decarbonisation targets.

Hafnia has also appointed Sustainalytics, an environmental, social and corporate governance performance data and research provider, to confirm that the facility’s structure will support Hafnia’s overall sustainability strategy.

The Stephenson Harwood team was led by partner Gregg Johnston, who was supported by associate Thomas Böhringer.

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KEY CONTACT

Gregg Johnston

Gregg Johnston
Partner

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

Thomas Böhringer

Thomas Böhringer
Associate

T:  +65 6622 9566 M:  +65 9489 2879 Email Thomas | Vcard Office:  Singapore

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Rose Russell
Communications and PR executive

T: +44 20 7809 2961 
Email Rose

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