WFW advises SPDBFL on US$136M lease financing for eight bulk carriers25 October 2022
The leases entered into, and security granted under, the two transactions are cross-collateralised.
The leases entered into, and security granted under, the two transactions are cross-collateralised.
The China Business Law Awards are based on hundreds of nominations received from China-focussed corporate counsel and legal professionals around the world.
Jonathan joins WFW from Maples Group and was previously a Partner at Norton Rose Fulbright Hong Kong.
Founded in 2008, CMBFL was one of the first batch of financial leasing companies designated by the State Council.
The transaction was notable for being the first of its kind undertaken by Capital Maritime, demonstrating Chinese leasing as an increasingly attractive ship financing option for European owners.
This is a milestone transaction as it represents one of the world’s first completed Japanese operating lease financing for vessels which has involved a Chinese leasing company.
The proceeds of the deal were used to refinance certain debt secured on the vessels.
Christoforos Bisbikos features in prominent bi-monthly maritime publication, Marine Money. The article looks at Chinese leasing which has now grown to control its largest ever portion of the global ship finance space.
The deal partially refinances the acquisition of the two largest container vessels in the world: the MSC Gülsün and the MSC Samar.
Shanghai-based CMBFL provides financial leasing solutions to large, medium and small businesses across China. It is a subsidiary of China Merchants Bank, the first share-holding commercial bank wholly owned by corporate legal entities in China.