Polaris Shipping Co., Ltd.’s Senior Secured Financing Of Five VLOCs

Stephenson Harwood (Singapore) Alliance has advised Crédit Agricole Corporate and Investment Bank on the deal.

The transaction involved a significant senior secured financing of five very large ore carriers for Polaris Shipping Co., Ltd.

The vessels – which were built, or will be built, by Hyundai Samho Heavy Industries Co., Ltd. – will serve long term employment contracts with Vale, the Brazilian mining entity. The loan facility is provided by a syndicate of four lenders comprising both international and Korean financial institutions.  

Korean-based Polaris Shipping is a global dry bulk and energy transportation owner and operator, and controls a fleet of approximately 37 vessels.

The Stephenson Harwood team comprised Singapore partner Gregg Johnston (Picture), senior associate Matthew Seah and associate Thomas Böhringer. Hong Kong law support was provided from Hong Kong partner Elton Chan and associate Tinnie Chan. 

 

Involved fees earner: Thomas Böhringer – Stephenson Harwood; Elton Chan – Stephenson Harwood; Gregg Johnston – Stephenson Harwood; Matthew Seah – Stephenson Harwood;

Law Firms: Stephenson Harwood;

Clients: Crédit Agricole Corporate and Investment Bank;

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Author: Sonia Carcano