Ship and offshore finance

Scandinavian bank

Acting for a Scandinavian bank (as lenders and mandated lead arrangers) in a pre and post-delivery loan facility (with export-credit backing) in favour of a listed Thai shipping company for the purpose of financing 10 newbuildings.

Syndicate of banks

Acting for syndicate of leading ship finance 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.

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.

French multi-national bank

Acting for a French multi-national bank and other mandated lead arrangers in the pre and post-delivery term loan facility of up to US$321 million for financing the acquisition of 8 vessels under construction.

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 6 LPG Carriers for a European based operator with a presence in Singapore.

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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.
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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.
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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.

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.