Singapore shipping team advises on US$145m facility for BW Batangas
Singapore | Press release - Business | December 2023
Global law firm Norton Rose Fulbright has advised a club of lenders led by long-term client Standard Chartered Bank on a US$145m financing for BW Batangas, owned by BW Group, one of the world’s leading maritime groups involved in shipping, floating infrastructure, deepwater oil & gas production, and new sustainable technologies.
BW Batangas is a Floating Storage Regasification Unit (FSRU) which will be deployed in the Philippines. The FSRU will provide LNG storage and regasification services to FGEN LNG Corporation and in doing so will play a vital role in ensuring the Philippine's energy security as part of FGEN's Interim Offshore LNG Terminal for the FGEN Clean Energy Complex in Batangas City.
The club of lenders was led by Standard Chartered Bank and comprised of Bank of America, Clifford Capital and DBS Bank.
The team advising the lenders was led by Singapore shipping partner Sue Ann Gan and included senior consultant Robert Driver, associate Zara Ann Loh and trainee Joshua Vardanega.
Sue Ann Gan commented: “We were proud to have advised the club of lenders on another deal involving two of our most valued clients, Standard Chartered Bank and BW. This transaction demonstrates opportunities in the transition to a sustainable and resilient future. More importantly, BW Batangas will play a key role in further developing and securing the Philippines’ energy supply. Norton Rose Fulbright was able to provide legal and commercial advice which I believe highlights our market leading practice in ship finance and the LNG sector.
BW Batangas is a Floating Storage Regasification Unit (FSRU) which will be deployed in the Philippines. The FSRU will provide LNG storage and regasification services to FGEN LNG Corporation and in doing so will play a vital role in ensuring the Philippine's energy security as part of FGEN's Interim Offshore LNG Terminal for the FGEN Clean Energy Complex in Batangas City.
The club of lenders was led by Standard Chartered Bank and comprised of Bank of America, Clifford Capital and DBS Bank.
The team advising the lenders was led by Singapore shipping partner Sue Ann Gan and included senior consultant Robert Driver, associate Zara Ann Loh and trainee Joshua Vardanega.
Sue Ann Gan commented: “We were proud to have advised the club of lenders on another deal involving two of our most valued clients, Standard Chartered Bank and BW. This transaction demonstrates opportunities in the transition to a sustainable and resilient future. More importantly, BW Batangas will play a key role in further developing and securing the Philippines’ energy supply. Norton Rose Fulbright was able to provide legal and commercial advice which I believe highlights our market leading practice in ship finance and the LNG sector.
For further information please contact:
Senior Consultant
Email
robert.driver@nortonrosefulbright.com