HFW Advises on AED863M Financing Deal for VLGC Construction

HFW, a specialized international law firm, provided counsel to Al Seer Marine and BGN on the financing arrangements for the construction of three Very Large Gas Carriers (VLGCs) in Korea and Japan. 

The AED863 million financing, spanning multiple jurisdictions, was spearheaded by Abu Dhabi Islamic Bank (ADIB) and involved a consortium of five GCC-based banks. 

HFW’s team was led by Tien Tai (pictured) and also included Andrzej Czernis

Tien Tai, Partner, HFW: 

“The upsizing of the Shari’ah compliant ship finance facility and the interest by the syndicate banks to finance these innovative vessels is a remarkable message to the shipping and gas industry in the Middle East and to this strategically important sector.” 

With a presence in the Middle East dating back to 2006, HFW boasts 20 partners and over 60 lawyers across offices in Abu Dhabi, Dubai, Kuwait City, and Riyadh. Recently, HFW secured a license from the Saudi Ministry of Justice, positioning it among a select group of international firms authorized to practice law in the Kingdom. Click here for further information.