Norton Rose Fulbright advises ABN AMRO on US$1.2 billion financing for FLNG Gimi

Global law firm Norton Rose Fulbright has advised ABN AMRO as documentation bank on behalf of a syndicate of leading international banks on the successful closing of a US$1.2 billion asset-backed debt facility for the refinancing of FLNG Gimi (Gimi), operated by subsidiaries of Golar LNG Limited (Golar).

The facility, which includes participation from ABN AMRO, Citibank, DNB, Goldman Sachs, and Standard Chartered Bank, replaces an existing US$627 million facility. The new debt facility features a seven-year tenor, a 16-year amortization schedule, and bears interest at SOFR plus a 2.5 percent margin per annum.

The cross-border Norton Rose Fulbright team advising ABN AMRO was led by London-based partners Richard Howley and Andrew Williams, with support from senior associates Julie Norton and Oliver Webber, and associate Jennifer Carr. Further assistance was provided by partner Sue Ann Gan and associate Zara Ann Loh in Singapore, as well as partner and US Head of Transport Brian Devine, and counsel Julie Pateman Ward, in New York. 

Richard Howley said: 

“We are delighted to have supported ABN AMRO and the syndicate of lenders on this landmark refinancing. The transaction demonstrates the continued strength and resilience of the LNG sector and the confidence of leading financial institutions in the long-term viability of floating LNG projects. It also highlights Norton Rose Fulbright’s ability to deliver complex, cross-border financings by leveraging our in-depth knowledge and experience in global energy and transport finance. We would also like to acknowledge the excellent work of Partner, Beatrice Russ and Senior Associate, Ben Orchard of Wikborg Rein’s London office, who represented the borrower and contributed significantly to the successful completion of this transaction.”

Norton Rose Fulbright has one of the largest and most dynamic energy practices in the world. The team is spread across every major energy market, supporting the firm’s clients across the entire energy value chain. Its lawyers have extensive experience in LNG, renewables, hydrogen, and emerging technologies such as carbon capture and storage, supporting clients on innovative and first-to-market transactions across the globe.

The firm’s global transport practice is comprised of 400 lawyers who deliver in-depth knowledge of the global aviation, rail and shipping industries. As one of the leading full-service legal practices in the transport sector, its lawyers provide clients with a comprehensive understanding of how transportation industries operate on a local and global scale. They have a longstanding track record of innovation in the transport sector, with experience in all forms of finance and leasing structures, restructurings, litigation and disputes matters and corporate dealings spanning M&A, private equity, joint ventures, strategic alliances and other forms of cooperation.