US$230 million facility granted to Eastern Steel Sdn. Bhd.
Advised BNP Paribas acting as facility agent and security agent for and on behalf of a syndicate of lenders (including BNP Paribas, BNP Paribas Fortis SA/NV and DBS Bank Ltd.) in relation to the US$230,000,000 term loan facility granted to Eastern Steel Sdn. Bhd., being one of the largest steel equipment producing companies in Malaysia.
The purpose of the facility is to finance payments required to be made pursuant to a lump sum turnkey contract in connection with among other things, the development, engineering, procurement, construction, operation and maintenance of a 2,000 ktpa steel project located in Kemaman Industrial Park, Terengganu, Malaysia. The facility is secured by, among other things, land charges and debenture over the project assets and is further guaranteed by Beijing Jianlong Heavy Industry Group Co., Ltd., being an indirect shareholder of the Borrower.
Advising BNP Paribas was Partner Florence Yong.