Norton Rose Fulbright advises on refinancing for BW LPG

Global | Press release - Business | June 2019

Global law firm Norton Rose Fulbright has advised a syndicate of eight international banks on a refinancing for BW LPG Group (BW LPG).

The firm advised on the facility which provides a 7-year senior secured term loan and revolving credit facility to BW LPG. The transaction involved complex commercial and legal considerations, having to meet the unique demands of eight international banks and BW LPG.

The syndicate was led by Nordea Bank, Oversea-Chinese Banking Corporation and Skandinaviska Enskilda Banken acting as mandated lead arrangers; ING Bank as lead arranger; and Credit Agricole Corporate & Investment Bank, The Iyo Bank (Singapore branch), Danish Ship Finance and Danske Bank as co-arrangers. Nordea Bank Abp Singapore Branch further acted as bookrunner, agent and security agent.

Ben Rose, Norton Rose Fulbright’s Head of Shipping, Asia, commented:

“This refinancing demonstrates the confidence the bank group places in BW LPG, as a world leading owner and operator of liquefied petroleum gas (LPG) carriers. We are proud to have been selected as lenders’ counsel for this significant transaction.”

The team further comprised of counsel Sue Ann Gan and associate Sophie Polisena.

Most recently, Norton Rose Fulbright was awarded Shipping Law Firm of the Year at the 2019 Asia Legal Awards.