The Singapore office of Watson, Farley & Williams LLP advised a syndicate of international lenders led by BNP Paribas as agent, in relation to a US$159,000,000 post delivery facility extended to J. Lauritzen A/S to enable its subsidiaries to refinance the acquisition of five product tankers and two gas carriers built in China, which financing was supported by buyer’s credit insurance from the China Export and Credit Insurance Corporation (Sinosure).
The product tankers are being constructed at Guangzhou Shipyard International Company Limited and the gas carriers are being constructed at Yangzhou Kejin Shipyard Co., Ltd.
The first product tanker was successfully delivered in January 2011.
This deal won Deal of the Year by both the Trade Finance Magazine and the Trade & Fortaiting Review.
The WFW team was led by partner Goh Mei Lin who was assisted by Lee Chien Herr.
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