Hogan Lovells Lee & Lee has advised the mandated lead arrangers on the successful project financing of the Fujairah Oil Terminal in the Middle East.
The complex loan, security and swap package for $251,860,000 was arranged by Crédit Agricole Corporate and Investment Bank, First Gulf Bank PJSC, Maybank Investment Bank Berhad, National Bank of Fujairah PSC, Natixis, Dubai Branch and The Bank of Tokyo-Mitsubishi UFJ, Dubai Branch, regulated by DFSA.
The borrower is a special purpose company set up in the Fujairah Free Zone having key long-term storage contracts with Concord Energy of Singapore and Sinomart KTS Development of Hong Kong, a subsidiary of Sinopec Kantons Holdings.
The Fujairah Oil Terminal is expected to commence operations in 2014.
The Hogan Lovells team was led by James Harris, Singapore office managing partner, with a team from the offices in Singapore, Dubai, Hong Kong, London and Washington DC.