Stephenson Harwood advises on FLEX LNG JOLCO financing transaction
Law firm Stephenson Harwood LLP has advised the debt financier in respect of a Japanese Operating Lease with Call Option (JOLCO).
The US$160 million JOLCO was arranged for NYSE-listed FLEX LNG, one of the world's leaders in LNG shipping, in respect of the financing of the 173,400m3 LNG carrier FLEX ENDEAVOUR. The funding sources consisted of equity funding arranged by SBI Leasing Services and Springliner, in addition to the debt financing provided by a global bank, which assumed roles as Agent, Security Agent and Lender in the US$120 million loan facility.
The Stephenson Harwood team was led by partner Shaun Park, who was supported by associates Hannah Marriott and Silvia Bota and paralegal Rafaela Chrysostomou.
The team's involvement in this project further demonstrates the depth of the firm's expertise in shipping JOLCO transactions.
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