Standard Chartered closes financing deal with BW, Marubeni LNG JV

Standard Chartered closes financing deal with BW, Marubeni LNG JV
LNG Lokoja, one of the vessels chartered to Nigeria LNG (Image courtesy of Nigeria LNG)

Standard Chartered said it has concluded a US$684.5 million, up to 12-year non-resource shipping finance facility for BW Gas JuJu LNG, a joint venture between BW Group and Marubeni. 

According to the bank, in December 2016 it led a syndicate of nine international banks in the transaction, which will refinance existing credit facilities for eight LNG tankers on long-term charters to Nigeria LNG.

It also acted as the mandated lead arranger, agent and security trustee, account bank and hedging bank in this transaction which was the largest deal for BW Group in 2016.

In addition, the bank completed two more shipping finance deals, one with for National Shipping Company of Saudi Arabia (Bahri) in the amount of $350 million to finance the construction and delivery of five very large crude carriers.

The second was a $572 million senior secured term loan facilities to subsidiaries of Reliance Group to finance six units of very large ethane gas carriers.

The bank added that the deals amounted to over $1.6 billion.

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