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

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
stuart.lennon@nortonrosefulbright.com 

Notes for editors:

Norton Rose Fulbright

Norton Rose Fulbright is a global law firm. We provide the world’s preeminent corporations and financial institutions with a full business law service. We have 3800 lawyers and other legal staff based in more than 50 cities across Europe, the United States, Canada, Latin America, Asia, Australia, Africa, the Middle East and Central Asia.

Recognized for our industry focus, we are strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare.

Wherever we are, we operate in accordance with our global business principles of quality, unity and integrity. We aim to provide the highest possible standard of legal service in each of our offices and to maintain that level of quality at every point of contact.

For more information about Norton Rose Fulbright, see nortonrosefulbright.com/legal-notices.