Stephenson Harwood (Singapore) Alliance advises on award-winning sustainable infrastructure deal

Stephenson Harwood (Singapore) Alliance has advised on a sustainable infrastructure deal – relating to Peacock Container Group's (Peacock) US$240 million sustainability-linked loan (SLL) – which has won the 'Transport Deal of the Year' award at The Asset Triple A Sustainable Infrastructure Awards 2023.

The firm advised a syndicate of lenders – comprising ABN AMRO Bank, ING Bank, TIAA FSB, Clifford Capital, and new joiners KeyBank and CIC – on increasing and extending Peacock's existing SLL. The work involved increasing Peacock's debt facility by c. 40%, as well as strengthening the lending group with two new lenders. These enhancements will enable Peacock to implement its strategic growth plans in the coming years, and this deal marked an important development in the company's sustainability journey.

Peacock is an ISO tank container leasing company, which owns and operates a fleet of more than 20,000 tank containers with capacities between 13,000 and 35,000 litres. It has operations in Rotterdam, Singapore, and Shanghai.

The Stephenson Harwood (Singapore) Alliance team was led by banking and finance partner Gregory Xu, who was supported by Virtus Law partner Jason Yang, associate Angeline Yap, and paralegal Sylvia Lisa.