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05 Nov 2019

Stephenson Harwood advises on Epic Gas fleet refinancing

Stephenson Harwood (Singapore) Alliance has advised ABN AMRO and Crédit Agricole on the major refinancing of a portfolio of 20 ships for Epic Gas, involving a US$201 million facility, with an extended repayment profile and a reduced interest margin.

The transaction will enable Epic Gas, the Singapore-headquartered LPG shipping solutions company, to make some material cost savings over the next five years, while extending its maturity profile and improving liquidity. The facility also includes a US$10 million tranche that is available for future acquisitions. The refinancing is a significant development for the seaborne services provider, as it continues to expand its offering. 

“The great legal advice provided by the Stephenson Harwood team addressed the requirements of different parties enabling a smooth and stellar transaction,” said Christian Nolting, Director – Global Transportation & Logistics Asia Pacific, ABN AMRO Bank. “Particularly, the professionalism of the team is evident in the efficient documentation and refinancing process across multiple jurisdictions and time zones. We look forward to working with Stephenson Harwood again." 
The Stephenson Harwood team comprised finance partner Iain Young and senior associate Pedram Norton, who were supported by associates Jefferson Tan and Thomas Boehringer.



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