A team of HFW lawyers, led by Partner Ian Chung, has advised Dubai-based offshore services company Stanford Marine on a US$300 million syndicated loan.
The highly complex five-year facility involved an Islamic finance tranche and a conventional finance tranche. The deal, which was secured over a fleet of 38 vessels and was oversubscribed, was arranged by a syndicate of banks, including Standard Chartered Bank, Abu Dhabi Commercial Bank PJSC, Mubadala GE Capital PJSC, Emirates NBD, Mashreq Bank PSC, Noor Islamic Bank and Barwa Bank.
The HFW team comprised Partner Ian Chung and Associate Emma Cummings. Other advisers included Dentons for the lending syndicate.
Earlier this year, Stanford Marine’s original US$200 million finance package was awarded Offshore Deal of the Year 2012 by Marine Money Offshore. HFW advised Stanford Marine on that deal also.
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