Norton Rose Fulbright advise lenders on milestone project loan facility for BW Group

Business January 5, 2017

Global law firm Norton Rose Fulbright has advised a syndicate of nine international banks in relation to the US$684.5 million non-recourse project loan facility to BW Gas JuJu LNG Limited, a joint venture partnership between BW Group and Marubeni.

The loan facility is for the refinancing of existing credit facilities in relation to eight LNG tankers on charter to Nigeria LNG Limited.

The syndicate was led by Standard Chartered Bank, Singapore Branch, as co-ordinator and comprised of a strong European bank contingent (comprising of Standard Chartered Bank, DVB Bank SE, Société Générale, ING Bank N.V., Danske Bank, BNP Paribas and Crédit Industriel et Commercial) as well as lenders from Singapore (Clifford Capital Pte. Ltd.) and Korea (The Korea Development Bank).

The Norton Rose Fulbright team was led by Singapore-based partner Ben Rose, with the assistance from partners Robert Driver and Colin Rice and further support from senior associates Sue Ann Gan and Laura Hamilton, associates Jaye Bhogal and Bernice Chia, and paralegal Kelly Forbes.

Ben Rose commented:

“This was the largest financing closed by BW Group in 2016 and was a key milestone for the JV. The transaction involved complex commercial and legal considerations, having to meet the unique demands of nine international banks, BW Group, Marubeni and Nigeria LNG. The financing was successfully completed despite challenging conditions in the shipping and oil and gas markets and the wider banking market generally.”

The Borrower was represented by Watson Farley & Williams in Hong Kong.

For further information please contact:

Stuart Lennon, Senior Marketing and Communications Manager, Asia
Tel: +852 3405 2306 

Notes for editors:

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