Taylors advises lenders on project loan facility for BW Group

Taylors (in association with Walkers) has acted as Bermuda counsel to a syndicate of nine international banks in relation to a US$684.5 million non-recourse project loan facility to BW Gas JuJu LNG Limited, a joint venture partnership between BW Group and Marubeni.

The loan facility was used to refinance existing credit facilities in relation to eight LNG tankers registered in Bermuda and was the largest financing closed by BW Group in 2016.

The syndicate was led by Standard Chartered Bank, Singapore Branch, as co-ordinator, and included a strong European bank contingent as well as lenders from Singapore and Korea.

The Taylors team was led by Jonathan Betts, with assistance from associates Phelecia Barnett and Benjamin Green.

Norton Rose Fulbright in Singapore acted as lead counsel to the bank syndicate and Watson Farley & Williams in Hong Kong acted for the borrower.