Norton Rose Fulbright Paris team advises on the financing of one of the world's largest LNG Bunkering Vessel

Global law firm Norton Rose Fulbright has advised Société Générale and SMBC Bank EU AG on a sustainability-linked loan for the financing of one of the world’s largest LNG Bunkering Vessels.

The loan is supported by a transition framework, relying on the Climate Transition Finance Handbook and the Sustainability-Linked Loan Principles, for the purpose of assisting Emerald Blue Maritime S.A.S. (100% subsidiary of Mitsui O.S.K. Lines Ltd.) to finance the acquisition of one of the world's largest LNG Bunkering Vessels – m.v. ‘Gas Vitality.’ The vessel has been chartered to an affiliate of France-headquartered energy company TotalEnergies and will be supplying LNG to power modern vessels in the Mediterranean Sea. The loan has an acquired third-party certification by DNV Business Assurance Japan.

Société Générale acted as sole mandated lead arranger, agent, security agent, bookrunner, co-sustainability coordinator and lender, and SMBC Bank EU AG acted as lead arranger, co-sustainability coordinator and lender.

Gas Vitality is owned by Mitsui O.S.K. Lines Ltd., one of the largest shipping companies in the world specialised in marine transportation, warehousing and cargo handling services.

The Paris-based Norton Rose Fulbright team was led by global co-head of transport and head of banking and finance in Paris, Christine Ezcutari with assistance from senior associate Paolo Pinna and associate Constance Ollat.

Norton Rose Fulbright’s shipping finance team is ranked as Band 1 by Chambers and Partners 2021 and as a Tier 1 practice in EMEA by The Legal 500 (2021).