International law firm Trowers & Hamlins has acted as lead counsel to the Agent and the Arrangers in a $150 million syndicated term facility extended to KEXIM Bank (UK) Limited, the London-based subsidiary of Export-Import Bank of Korea, the official export credit agency of South Korea.
The transaction involved participation from a consortium of banks across Asia and the UK. The Trowers team advised on all aspects of the facility documentation, including the term loan structure and syndication arrangements among the participating lenders.
Sukyoung Kim, KEXIM Bank (UK) Limited, commented:
"This facility provides us with the flexibility to pursue and expand our company's objectives. We valued the collaborative approach of both the Finance Parties and the Trowers & Hamlins team in getting this transaction closed, and the assistance from the Trowers team in ensuring the closing timeline was met, despite requiring close coordination between several banks across multiple jurisdictions for a seamless closing."
Nicol Ong, Partner in International Banking and Finance, added:
"We are pleased to have advised on this facility to KEXIM bank. The matter required collaboration across multiple jurisdictions, with tax considerations forming a crucial part of our advice, demonstrating Trowers' cross-border capabilities.
This transaction highlights the appetite for structured lending in the region and marks an exciting time for our Korea desk continues to advise on a growing number of these kinds of projects."
The Trowers team included Chuan How Tan, Nicol Ong, Phoebe Lim, Nicole Stewart and Dashaiyani Jeyakumar (International Banking and Finance) and Thomas Yun (International Projects, Energy and Infrastructure).
