3 July 2018
Watson Farley & Williams (“WFW”) advised PB Vessels Holding Ltd, a wholly owned subsidiary of Hong Kong listed dry bulk shipping company Pacific Basin Shipping Ltd, on a US$325m secured revolving credit facility in relation to the refinancing of 50 vessels extended to it by a syndicate of international banks.
This long term facility will provide the company with access to committed funding to operate its handy-sized fleet with freedom, flexibility and ease.
Madeline commented: “Pacific Basin is a valued client of WFW and we are delighted to have advised them on this milestone cross-border transaction which involved a large number of vessels. The commitment and support provided by the international banking community is evidence of Pacific Basin’s excellent reputation in the industry and strong business model, making them a reliable partner for such financings”.