Watson, Farley & Williams (“WFW”), practicing in Hong Kong in association with Lau, Leong & Co., is pleased to announce that it has advised Nordea Bank Norge ASA as Facility Agent for a syndicate of 14 lenders on the provision of a US$866,070,430 facility to the BW Group to refinance eight LNG carriers and for general working capital purposes.
Nordea Bank Norge ASA is part of the largest financial services group in Northern Europe and is active in the shipping and offshore arenas, and the syndicate members comprised leading banks across Europe and Asia.
The eight LNG vessels are registered in Bermuda and are long term time chartered to Nigeria LNG Limited.
Head of WFW Hong Kong Madeline Leong led the team, and was assisted by associates Jonathan Keats and Siavush Mokhtar.
Madeline Leong, head of WFW in Hong Kong, said: “This deal was challenging for all parties and drew on WFW’s legal experience and expertise in the oil and gas/energy sector. The size of the financing demonstrates that lenders are very keen to lend to and support significant players like BW Group in the LNG sector.”
