Hogan Lovells closes the deal for the restructuring of Saigon Premier Container Port in Vietnam
13 July 2015
HONG KONG, 13 July 2015 – Hogan Lovells has successfully advised the syndicate of lenders on the restructuring of a term loan to Saigon Premier Container Terminal ("SPCT") to fund the development and construction of a container terminal facility in Ho Chi Minh City, Vietnam.
The syndicate of lenders includes, among others, Australia and New Zealand Banking Group Limited; Hong Kong and Shanghai Banking Corporation Limited; Credit Agricole Corporate and Investment Bank; and Natixis S.A.
SPCT is a joint venture between DP World Limited and Tan Thuan Industrial Promotion Company, a Vietnamese state owned enterprise. The original project was the first internationally project-financed port deal in Vietnam. The terminal, which can receive 50,000DWT fully loaded vessels and 70,000DWT partially loaded vessels, provides the most efficient route for shipping companies to enter the ports of Ho Chi Minh City.
Our team was led by London partner Gary Hamp and Hong Kong BRI partner Stuart Tait; supported by associate Derrick Lau, and Vietnam partner Jeff Olson and associate Ngoc Nguyen.