21 Jan

Standard Chartered Closes Shipping Deals Worth $1.6bn

  • By: Bangladesh Ship Supply
  • Blog
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Standard Chartered announced the completion of three shipping finance deals in excess of $1.6bn concluded in the third quarter of 2016.
The three separate deals were done for BW Gas JuJu LNG Limited, National Shipping Company of Saudi Arabia (Bahri), and subsidiaries of Reliance Group.
In December last year, Standard Chartered closed a $684.5m, up to 12-year non-recourse shipping finance facility for BW Gas JuJu LNG, a joint venture partnership between BW Group and Marubeni.
In November 2016, the bank structured a $350m senior secured Murabaha facility for Bahri, allowing the latter to finance the construction and delivery of five VLCCs for delivery in early 2018.
In October 2016, Standard Chartered concluded a $572m senior secured term loan facilities to subsidiaries of India’s Reliance Group to finance six very large ethane gas carriers. The transaction was oversubscribed by 12 international banks.
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