23 May 2012
The Singapore office of Watson, Farley & Williams LLP (“WFW”), a leading international law firm, is pleased to announce that it advised Armada D1 Pte. Ltd. in relation to a bridge loan facility of an initial amount of US$100,000,000 made available by Bank of India, Bank of Baroda and Indian Overseas Bank, with Bank of India, Singapore Branch acting as agent for the lenders.
Armada D1 Pte Ltd is a joint venture between Kuala Lumpur-based Bumi Armada Berhad and India’s Shapoorji Pallonji, and the facility will be used to assist with financing certain project costs in relation to the provision of an FPSO for use on the D1 field under a contract with Oil and Natural Gas Corporation Limited (ONGC). The D1 field lies 200 kilometres off Mumbai in a water depth of between 85 and 90 metres.
The WFW Singapore team was lead by partner Andrew Nimmo.