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25 June 2019

WFW advised Credit Agricole on US$91m financing for Landbridge leased VLCCs

Watson Farley & Williams (“WFW”) advised Credit Agricole Asia Shipfinance Limited (“Credit Agricole”) as facility agent on a US$91m term loan facility to a subsidiary of investment firm Sole Shipping Group (advised by Nordisk Legal Services) for the financing of two VLCCs (and scrubbers).

The ships will be bareboat chartered to Hong Kong-based Landbridge group, with the leases arranged by Pareto Securities. The lenders were Crédit Agricole Corporate and Investment Bank and BNP Paribas.

The WFW Hong Kong Maritime team advising on the transaction was led by Partner and Office Head Madeline Leong, supported by Valerie Lee and Lee Siu Ting.

Madeline commented:

“We are extremely pleased to have worked on this transaction, which represents a trend towards more structured financings involving new players in the Asian maritime markets such as investment firms. Advising on this matter required experience and expertise in maritime financing and leasing and which we were able to bring to bear on our client’s behalf to facilitate and contribute towards its successful closing”.

 

About Watson Farley & Williams:

Watson Farley & Williams is an international law firm with offices in Athens, Bangkok, Dubai, Frankfurt, Hamburg, Hong Kong, London, Madrid, Milan, Munich, New York, Paris, Rome and Singapore. The firm currently has 500+ lawyers and over 900 staff. Watson Farley & Williams is a leading international law firm providing services of high quality and value to clients throughout a range of industry sectors, with particular focus on: Energy & Infrastructure, Maritime, Natural Resources, Real Estate and Transport. Lawyers from our international offices work as integrated teams to provide practical, commercially focused legal services. Our locations allow us sufficient geographical spread to be competitive in the global market and to provide consistently high quality legal services to our clients. w: www.wfw.com

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