Standard Chartered plays leading role in USD145 million facility for BW Batangas

Standard Chartered announced the successful closing of a USD145 million senior secured term loan facility for BW Batangas, a Floating Storage Regasification Unit (FSRU) owned by BW LNG, a wholly-owned affiliate of BW Group, a leading maritime group with diversified interests in shipping, floating infrastructure, deepwater oil and gas production, and a growing presence in renewable energy and sustainable technologies.

The FSRU, which will be deployed in the Philippines, will play a vital role in ensuring the country’s energy resilience and security as part of First Gen’s (a leading provider of clean and renewable power in the Philippines) Interim Offshore LNG Terminal in the city of Batangas, directly supporting the country’s ambition to become an LNG hub.

Standard Chartered played a leading role in the syndicated financing with a group of four lenders, where it acted as coordinating bank, facility agent, and security agent, as well as mandated lead arranger and lender.

Commenting on the deal, Abhishek Pandey, Global Head of Transportation Finance at Standard Chartered, said: “We are delighted to further grow our relationship with BW Group, supporting them in their efforts to deploy floating solutions for LNG as part of wider transition to a low carbon economy. The success of the facility not only demonstrates our strong credit offering and capabilities, it also aligns with the Bank’s commitment to direct capital to areas that can help drive sustainable development in energy, storage and transportation infrastructure across ASEAN markets.”

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