WFW advises on US$150m loan to BW LPG14 February 2018
Watson Farley & Williams (“WFW”) has advised ING Bank N.V., Singapore Branch, as facility agent for a syndicate of international lenders comprising ING Bank, Danish Ship Finance, Development Bank of Japan, Oversea- Chinese Banking Corporation Ltd and Société Générale on the provision of a US$150m secured term loan facility to BW LPG Holding Ltd (“BW LPG”).
BW LPG will use the proceeds of the facility to finance its general corporate and working capital. The loan is specifically tailored to provide flexibility for BW LPG so that the company can sell, buy and substitute ships to grow and adjust its fleet size as needed to accommodate its operations and strategies.
The WFW Hong Kong maritime team advising on the transaction was led by Partner Madeline Leong, supported by Senior Associate Valerie Lee and Legal Manager Ariel Chen.
Madeline commented “The backing provided by this syndicate of Asian and European lenders demonstrates the global financial support for the Oslo-listed BW LPG’s growth, vision and business”.