8.2 C
London
HomeSector InsightsCorporateWFW advises ING Bank on sustainability linked JOLCO with Stolt-Nielsen and FPG

WFW advises ING Bank on sustainability linked JOLCO with Stolt-Nielsen and FPG

Dawn Jackson
By Dawn Jackson

10 August 2022

Watson Farley & Williams (“WFW”) has advised ING Bank N.V. (“ING”) as agent and security agent and ING Bank N.V., Tokyo Branch (“ING Tokyo”) as bank and mandated lead arranger on a US$127.66m sustainability-linked Japanese Operating Lease with Call Option (“JOLCO”) with Stolt Tank Containers Leasing Ltd. (a subsidiary of Stolt-Nielsen Limited) as lessee, Financial Products Group Co., Ltd. (“FPG”) as equity provider and FPG Asset & Investment Management B.V. (“FPG AIM”) as JOLCO arranger for three portfolios of container boxes.

The interest rate under the term loan facility is linked to an annual ESG score calculated and assigned to the Stolt Tank Containers business.

The WFW Singapore Assets & Structured Finance team that advised ING was led by Partner Lizzie Roe, supported by Associate Andy Wilson.

Lizzie commented: “We’re delighted to have advised ING on this unique deal combining a sustainability-linked loan with a JOLCO structure, which once again proves WFW’s standing as the ‘go-to’ law firm for JOLCO and sustainable shipping transactions.”

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Share 0
Previous article
Conveyancing sector notorious for heavy use of paper over digital technology
Next article
WFW advises BW Energy on US$300m international RBL facility

latest articles

explore more

49 COMMENTS

LEAVE A REPLY

Please enter your comment!
Please enter your name here

LawNews.co.uk provides the latest legal news and analysis from around the world

most viewed

useful links

Copyright © 2022 LawNews.co.uk