The Singapore office of Watson, Farley & Williams (“WFW”), a leading international law firm, advised Standard Chartered Bank and DBS Bank Ltd as mandated lead arrangers and bookrunners in relation to a US$276 million syndicated financing to ECOM Agroindustrial Asia Pte. Ltd and ECOM Agroindustrial Corp. Limited, two members of the multi-national commodities trading group ECOM. Five other members of the ECOM group provided guarantees in support of the facility which ultimately required the involvement of seven different jurisdictions on three continents.
The facility was heavily oversubscribed by the 16 member banks of the syndicate and upsized from US$125 million. The facility will be used towards the working capital and general corporate purposes of the ECOM group.
The WFW Singapore team was led by partner Josh Clarke and assisted by associate Hannah Sinclair.
Josh Clarke, partner, WFW Singapore comments: “The majority of the bank syndicate was new to the ECOM group and as such, a high level of communication was necessary to move the transaction through to completion. Nevertheless, the financing closed within the tight timelines set by the arrangers and ECOM.”
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