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Stephenson Harwood advises BNP Paribas on a $60 million sustainability-linked secured revolving credit facility to Cetus Maritime
Stephenson Harwood has advised BNP Paribas on a US$60 million sustainability-linked, secured revolving credit facility (RCF) to Cetus Maritime group, a handysize dry bulk owner and operator.
The firm acted for BNP Paribas in its capacity as Agent, Security Agent and sustainability coordinator.
This RCF features a sustainability-linked margin adjustment, with a key performance indicator linked to the reduction of carbon intensity. The facility also provides the borrower with operational flexibility, including the ability to substitute vessels provided as security and to accommodate future changes to group entities.
The Stephenson Harwood team was led by Singapore-based Partner Pedram Norton who was supported by Associates Yin Ling Ng and Natania Peh. Further Hong Kong law advice was provided by Hong Kong-based Partner Elton Chan, who was supported by Associate Tinnie Chan. Singapore law advice was provided by Virtus Law Partner Colin Jarraw, who was supported by Associate Jamie Loh and Senior Paralegal Sylvia Lisa.
