Norton Rose Fulbright (Asia) LLP
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Sophie Polisena is an asset finance lawyer based in Singapore, focusing primarily on the shipping and offshore oil and gas sectors, with experience in aviation transactions also.
Sophie was named as a "Rising Star" in Asset Finance in the 2022 Legal 500 Asia Pacific guide.
Sophie has a broad range of experience acting for international shipping and project financing banks, owners, operators and other financial institutions in syndicated and bilateral debt facilities, debt restructuring and ship sale and purchase transactions. She has extensive experience with the Chinese sale and leaseback market and advising Korean shipping companies and lenders, and is also very familiar working with the Singapore, Marshall Islands and Liberian ship registries.
In the past two years, Sophie has become a lead Associate in relation to our work in respect of LIBOR cessation. She has advised multiple banks and syndicates of lenders in relation to various aspects of LIBOR cessation as well as completing client-facing knowledge-related tasks, including being filmed for the LIBOR Transition Asia video series that the firm recorded.
Sophie is a non-practising Barrister, and was called to the Bar of England and Wales in 2013.
- 2008 - 2011; University of Cambridge, BA Hons, History
- 2011 - 2012; College of Law, Graduate Diploma in Law
- 2012 - 2013; College of Law, Bar Professional Training Course
- 2011 - 2013; College of Law, LLB Law
- 2016; BBP, Accelerated Legal Professional Course
- Solicitor, qualified in England & Wales 2017
Offshore oil and gas
- Counsel for a syndicate of 7 lenders on a US$720,000,000 conventional and Islamic financing for a subsidiary of Yinson in relation to the conversion of an FPSO, to operate offshore Brazil.
- Counsel for the owner on financing and call option arrangements for an FPSO, to be chartered to Enauta Energia S.A. and operated by a subsidiary of Yinson offshore Brazil. The project has an estimated aggregate value of US$505m, with an increase to US$1.98bn (including a five-year extension) should Yinson exercise the call option.
- Counsel for a syndicate of 12 lenders on a US$1.5 billion bridge loan, backed by a corporate guarantee, in relation to the conversion of an FPSO.
- Counsel for a syndicate of 12 lenders in relation to the US$800,000,000 project financing for Yinson Production (West Africa) Pte. Ltd. (a subsidiary of Yinson Holdings Berhad) of the FPSO John Agyekum Kufuor. The FPSO is on charter to ENI and operating offshore Ghana.
- Counsel for existing lenders in relation to the refinancing of facilities relating to the FPSO "FPF-003" and the MOPU "West Desaru" for subsidiaries of Petrofac and Petrofirst (a subsidiary of Blackrock).
- Counsel to ING in a US$65,000,000 refinancing of a Marshall Islands flagged FPSO operating in Vietnam, owned by Armada TGT Ltd (a subsidiary of Bumi Armada Berhad).
- Counsel to a syndicate of 7 lenders in respect of six (6) separate project financings to MISC, to finance six (6) VLECs to be chartered to Satellite (ongoing).
- Counsel to various syndicates of lenders in respect of four (4) separate project financings to AET, to finance five (5) tankers to be chartered to Shell and Total.
- Counsel to a syndicate of lenders in respect of a US$465,000,000 financing of three (3) newbuild LNG carriers to be owned by COSCO Shipping and chartered to Petrochina (ongoing).
- Counsel for a syndicate of lenders in relation to a $300,000,000 post-delivery Chinese sale and leaseback financing for two vessels ultimately owned by ICBCL
- Counsel in relation to the project financing of one (4) dual fuel, dynamic positioning shuttle tankers for AET to be chartered by Shell.
- Counsel for a syndicate of lenders in relation to the project financing of four (4) dual fuel, dynamic positioning shuttle tankers for AET to be chartered by Petrobras.
- Counsel for a syndicate of lenders in relation to the project financing of two (2) dual fuel, dynamic positioning shuttle tankers for AET to be chartered by Equinor.
- Counsel for a syndicate of lenders in relation to the project financing of two (2) dual fuel, dynamic positioning shuttle tankers for AET to be chartered by Petrobras.
- Counsel in a US$460,000,000 refinancing of fourteen vessels owned by various subsidiaries of BW LPG Holding Limited by a syndicate of eight lenders.
- Counsel to Heytesbury Singapore Pte. Ltd. in relation to the sale and leaseback of m.v. "Ocean Swagman" from Wellard Ships Pte. Ltd.
- Counsel for a syndicate lenders on pre-delivery and post-delivery financing to ICBC Financial Leasing of four Kamsarmax newbuildings, such vessels to be subject to a sale & leaseback arrangement between a joint venture partnership including ICBC Financial Leasing and Shandong Shipping Corporation and involving a complex arrangement whereby the credit risk was mitigated through a unique combination of remarketing and standby chartering arrangements between Shandong Shipping Corporation and ICBC Financial Leasing.
- Borrower's counsel for a financing used to acquire a private super yacht.
- Counsel for Fortune Lianjiang Shipping on the US$1.2 billion delivery of "Hilli Episeyo", the world's first converted floating LNG production vessel.
- Counsel for a syndicate of lenders in respect of a US$250,000,000 senior loan to a Korean shipowner for the financing of five new build crude oil tankers, chartered to Hyundai Merchant Marine, backed by a K-Sure (a Korean government entity) insurance policy.
- Counsel for a syndicate of lenders in respect of a loan of US$111,300,000 to SK Shipping, a Korean shipowner, for the financing of two new build very large ore carriers, with subsequent twenty-five year contracts of affreightment with Vale, the Brazilian multinational engaged in metals and mining.
- Counsel in respect of two senior credit facilities totalling US$54,000,000, backed by two junior credit facilities totalling US$22,000,000, to finance the purchase of two pure car and truck carriers. The deal was structured as a Japanese Operating Lease with Call Option (JOLCO) and arranged by Mizuho Securities Co., Ltd. Such a JOLCO structure remains relatively uncommon for shipping companies generally.
- Counsel in respect of a loan of US$114,000,000 to Sinokor, a Korean shipping company, to finance the purchase of twenty four vessels. Have since worked on the delivery of all.
- Advising Philippine Airlines, Inc. on its Chapter 11 case, involving negotiating and restructuring the financing and leasing arrangements with its lessors and financiers across the fleet.
- Advising Singapore Airlines on a US$1.5 billion sale and leaseback programme with several purchasers and lessors, including advising on the RFP, negotiation of commercial terms, final section of purchasers and drafting and negotiating each lease.
- Advising a towing company in relation to the Waste Recycling Regulations.
- Advising a commodities and resources company in relation to the quantification of damages in the event of a Force Majeure.
- Counsel on a $200 million bilateral facility to Bayfront Infrastructure incorporating rate switch provisions from LIBOR to Compounded SOFR
- Advising a syndicate of 12 lenders on a $1.5 billion bridge loan facility incorporating rate switch provisions from LIBOR to Compounded SOFR
- Advising a syndicate of 4 lenders on a $170 million facility incorporating rate switch provisions from LIBOR to Compounded SOFR
- Advising a syndicate of 4 lenders generally on the impact of the LIBOR transition on an existing Islamic Financing.
- Law Society
- The Honourable Society of the Middle Temple
January 12, 2023
March 17, 2022
January 18, 2022