Ship and offshore finance

Vale S.A.

Advising in the sale to Polaris Shipping Co., Ltd. and leaseback of ten 400,000 dwt very large ore carriers, which involved a US$600 million financing package by a syndicate of Korean banks and private equity funds. This resulted in the launch of Polaris to the world's largest VLOC owner and was Marine Money's Project Finance Deal of the Year 2012.

Bank of China

Advising Bank of China on a US$517 million pre and post-delivery financing to Pacific International Lines to finance 14 container ships being built in China. This was the first ship financing backed by Sinosure lease insurance policies with Trade Finance magazine describing the deal as “landmark for ship finance”.

Syndicate of international shipping banks

Advising a syndicate of banks in relation to twelve year syndicated loan facilities for 16 newbuilding vessels of US$510 million in total. The vessels are to be chartered by a major Korean shipowner to the world’s largest pulp and paper company.

Singapore-based international shipping bank

Advising an international shipping bank in relation to enforcement proceedings over defaults of mortgage payments.

Bank of Communications Financial Leasing Co., Ltd.

Advising on a landmark ships-for-shares deal for a fleet of 29 ships chartered to Trafigura, and sold to Scorpio Tankers and Frontline Ltd for US$668 million, US$675 million respectively. (Marine Money The Editor’s Choice Deals of the Year – Ships for Shares 2019)

Bank of Communications Financial Leasing Co., Ltd.

Advising on the US$185.2 million financing of two containerships chartered to Maersk Line through a Japanese Operating Lease with Call Option structure. This was one of the first vessel JOLCO for a Chinese leasing company. (Marine Money Leasing Deal of the Year – East 2019)

Minsheng Financial Leasing Co., Ltd.

Advising Minsheng Financial Leasing in relation to the refinancing of a portfolio of 10,000 marine containers, through a Japanese Operating Lease with Call Option (JOLCO) with head lease and sub-lease structure. (Marine Money Leasing Deal of the Year - East 2018)

Bank of Communications Financial Leasing Co., Ltd.

Advising Bank of Communications Financial Leasing Co., Ltd. (BCLC) in respect of the groundbreaking transaction in connection with the US$900 million lease financing by a syndicate of PRC lessors of the cruiseship ‘Genting Dream’.

Shipping

German-based international shipping bank

Advising a German-based international shipping bank as agent for a syndicate of lenders in the US$488 million debt restructuring of a Singapore-listed shipping trust.

China-based shipping container owner and operator

Advising a Chinese shipping container owner and operator in the revolving credit facility provided by a Singapore-based international bank to refinance part of its portfolio of shipping containers.

Chinese finance leasing company

Advising on the financing with support by the Korea Trade Insurance Corporation by a syndicate of international lenders of three Korean-built boxships, which at 19,224 teu each, are currently the world's largest container ships.

Loan restructuring

Acting for a European bank on restructuring a loan facility made to a Singapore company which is a wholly owned subsidiary of a Thai listed entity (which also acts as guarantor). The original facility was advanced to finance the acquisition costs of three Singapore flagged bulk carriers and the restructuring involved, in addition to amending the repayment profile and LTV coverage, adding two further Singapore flagged bulk carriers as collateral security. 

Banks and banking

Bank of China

Advising Bank of China on a US$517 million pre and post-delivery financing to Pacific International Lines to finance 14 container ships being built in China. This was the first ship financing backed by Sinosure lease insurance policies with Trade Finance magazine describing the deal as “landmark for ship finance”.

Syndicate of international shipping banks

Advising a syndicate of banks in relation to twelve year syndicated loan facilities for 16 newbuilding vessels of US$510 million in total. The vessels are to be chartered by a major Korean shipowner to the world’s largest pulp and paper company.

German-based international shipping bank

Advising a German-based international shipping bank as agent for a syndicate of lenders in the US$488 million debt restructuring of a Singapore-listed shipping trust.

Thailand

DNB Bank ASA

Advising DNB Bank ASA on a US$398 million syndicated loan to Thai shipping company, involving security over 15 vessels, the syndicate comprising five banks.

Bangkok Bank Company Limited

Acting for Bangkok Bank Company Limited on a syndicated loan facility to a major shipowner in the post-delivery financing of two dry bulk carriers.

TMB Bank Public Company Limited

Advising TMB Bank Public Company Limited on a post-delivery facility advanced in favour of a major shipowner.

More: Thailand

China

Top-tier PRC lessor

Advising on the sale and leaseback of up to 32 newbuild tankers for commodities giant Trafigura with deal value of US$1.35 billion.

Top-tier PRC lessor

Advising on the sale and leaseback of 11 container vessels involving French, Maltese, UK and Panama flag with CMA CGM as sellers and incoming charterers.

Top-tier PRC lessor 

Advising on a US$120 million term loan facility for the sale and leaseback of two container box vessels ultimately chartered to a major European shipping company. 

Chinese finance leasing company

Advising on the financing with support by the Korea Trade Insurance Corporation by a syndicate of international lenders of three Korean-built boxships, which at 19,224 teu each, are at the time of writing the world's largest container ships.

Major PRC lessor

Advising on the purchase of 8 fully containerised vessels from German asset and investment manager MPC Capital AG and the subsequent charter of the vessels to Maersk Line A/S.

Major PRC lessor

Advising on the sale and leaseback of a newly-built vehicle carrier ultimately beneficially owned by a major Norwegian car carrier company.

Minsheng Financial Leasing

Advising on the sale and leaseback of eleven tankers to be ultimately chartered by a multinational commodities giant.