Shipping

International shipping company

Acting for a middle eastern based shipping and container company in a Japanese operating lease transaction for the US$71.4 million financing of a portfolio of marine containers.

British bank

Acting for the Hong Kong branch of a British bank on the sale and leaseback for a Korean transportation services company of six vessels. The transaction involved a pre-delivery bridge facility as well as a complicated resale structure with certain payments being escrowed until delivery.

Syndicate of banks

Acting for syndicate of banks as lenders and mandated lead arrangers in a secured reducing revolving credit facility of up to US$270 million provided to a shipping company to finance or refinance 16 vessels.

Ship and offshore finance

Advising a well-known international shipping bank on their divestment of a portfolio of shipping operating lease assets. The divestment is made up of a mixture of share and asset sales.

Acting for a key European shipping bank in respect of a large RCF strategic financing used to refinance and provide working capital to diverse shipping divisions of a European based owner/operator.

Acting for a Singapore bank in connection with a hunting licence facility for a listed Vietnamese shipping entity.

Advising an international shipping bank exiting the shipping space on the sale of several vessel owning entities during the Covid lockdown period.

Advised a leading European bank on the structuring and documentation of a complex and innovative multi-tiered debt finance with quasi-government backing for the purchase and lease of container boxes to a leading liner operator.

Acting for an Asia based owner in negotiating and agreeing various JOLCO sale and leaseback transactions.

More: Ship and offshore finance

Restructuring and insolvency

DVB Group Merchant Bank (Asia) Ltd

Acting on various finance agreements entered into by DVB Group Merchant Bank (Asia) Ltd to various vessel owning companies operating under the Pan Ocean banner following the application by Pan Ocean for rehabilitation in the Korean courts. This involved complex issues requiring careful consideration resulting in the sale/taking back of certain vessels.

International European bank

Acting for the SPV registered owners of three vessels in relation to a sale and lease back transaction granted by the lessor behind the SPV registered owners. The matter involved charterparty claims by the registered owners against the demise charterers and the retaking of the vessels from existing charters and subsequent bareboat charter of the vessels to a new third party end user.

Fund 

Acting for a fund established by a well-known international shipping bank in the restructuring of a sale and lease back transaction for certain vessels and the debt provided to leverage the transaction, including a principal and interest payment holiday, followed by a consensual termination of the leases built around a settlement agreement and the issuance of convertible preference shares.
More: Restructuring and insolvency

Banks and banking

DVB Group Merchant Bank (Asia) Ltd

Acting on various finance agreements entered into by DVB Group Merchant Bank (Asia) Ltd to various vessel owning companies operating under the Pan Ocean banner following the application by Pan Ocean for rehabilitation in the Korean courts. This involved complex issues requiring careful consideration resulting in the sale/taking back of certain vessels.

International European bank

Acting for the SPV registered owners of three vessels in relation to a sale and lease back transaction granted by the lessor behind the SPV registered owners. The matter involved charterparty claims by the registered owners against the demise charterers and the retaking of the vessels from existing charters and subsequent bareboat charter of the vessels to a new third party end user.

Standard Chartered Bank (Hong Kong) Limited 

Acting for Standard Chartered Bank in relation to the acquisition, finance and charter (by way of operating lease) of an anchor handling tug & supply vessel for a listed Singapore company.
More: Banks and banking

Offshore

International British bank

Acting for a British bank in the sale and leaseback of six offshore supply vessels in a sale and leaseback financing structured by the bank for a French offshore shipping company.

BW Offshore

Acting in the financing of an Indonesia flagged FPU known as 'BW Joko Tole' by various banks, including ING Bank NV, ABN AMRO Bank NV and PT Bank Sumitomo Mitsui Indonesia. 

Norddeutsche Landesbank Girozentrale, Singapore Branch

Acting for Nord LB in relation to the financing of a platform supply vessel for an offshore operator.

Offshore owner/operator

Advising in a loan of up to US$120 million to assist the owner in the financing/re-financing of certain costs incurred in the acquisition and conversion of a floating, production, storage and offloading vessel for work offshore New Zealand.

South-East Asia

Advising Singapore and Singapore based lenders on shipping loans into separate vessel owning SPCs forming part of a Thai based operator.

Advising a European based oil industry player in the sale of an FPSO on contract in Vietnamese waters.

Advising a prominent Malaysian conglomerate on a bridge finance with a large syndicate of Asia based lenders of certain newbuilds constructed in China.

Acting for a Singapore bank lending to an Indonesian joint venture in respect of the financing of a large number of transhipment barges.

Japan

Acted for a Japanese lender to a consortium of Japanese entities in respect of amendments made to an LNG finance transaction with an Indian end-user.

Acted for a Japanese bank on asset back ship lending transactions to a Singapore based owning group.

Acted for the Singapore branch of a European bank with a Tokyo branch on a finance into a JOLCO structure for a container box transaction with a Singapore owner.