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26 Oct 2023

Stephenson Harwood advises on sale and leaseback financing arrangements for Huaxia

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Stephenson Harwood (Singapore) Alliance has advised Huaxia Financial Leasing Co. Ltd. (Huaxia) on its sale and leaseback financing arrangements with Cool Company Ltd. (CoolCo) for two newbuild LNG carrier vessels, the Kool Tiger and Kool Panther. Hyundai Samho Heavy Industries, the world's largest shipbuilder, is scheduled to deliver both vessels to CoolCo in the second half of 2024.

Huaxia is a wholly controlled subsidiary of Hua Xia Bank Co., Ltd. The financial leasing service provider is working to build a green leasing brand with emphasis on green energy, green transportation, pollution control and the circular economy.

CoolCo is an owner, operator and manager of LNG carriers. The company acquired the newbuild MEGA LNG vessels from affiliates of EPS Ventures Ltd.

"This was a fantastic opportunity to advise on an exciting transaction involving companies which are committed to working towards the decarbonisation of the maritime industry. This also aligns with Stephenson Harwood's strategy, with decarbonisation as one of the firm's areas of focus," said Huay Yee Kwan, partner, Stephenson Harwood (Singapore) Alliance.

The Stephenson Harwood (Singapore) Alliance team was led by partner Huay Yee Kwan and assisted by associate Yin Ling Ng in Singapore.

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