Each of the deals involved teams based in London, Singapore, Hong Kong and Shanghai headed by Jonathan Solomon.
The deal team comprised Jonathan Solomon, Patrick Sutton, Jade Fawcett, Chris Sai Kit Tang, Carrie Lam, Maggie Cheung, Jeffrey Yang, Catherine Jing, Cong Liu, Jessica Kenworthy, Jamie Sim, Carolyn Chia and Tania Teng.
The lending syndicates for two of the financings were led by ABN AMRO and the third financing involved a lending syndicate led by Commonwealth Bank of Australia and Westpac.
The financings were self liquidating and involved as part of the financing structure crude oil supply and guarantees from leading global crude oil suppliers together with long term base oil offtake agreements executed with China National Offshore Oil Cooperation (CNOOC).
This is the second year in a row that Reed Smith has won a “TXF Perfect Deal of the Year” award. In May 2018, our Trade Finance team won TXF’s ‘Asia-Pacific Commodities Finance Deal of the Year’ for its work advising on Shandong Qingyuan’s US$650 million prepayment facility. To read more, visit reedsmith.com.
Jonathan Solomon, lead partner on the matter, said: “It is a huge achievement for all of the team that worked on the deals and further enhances our reputation as the leading structured trade finance law firm in APAC. Our ability to provide our clients with a seamless co-ordinated service across our London and APAC offices means we can deliver an almost 24/7 coverage and enables us to meet every deadline and requirement set by our clients”.
TXF Perfect 10 awards look for the most innovative, market-influencing transactions involving trade, commodity, ECA/DFI-backed or project financing.
About Reed Smith
Reed Smith is a dynamic international law firm dedicated to helping clients move their businesses forward. Our belief is that by delivering smarter and more creative legal services, we will not only enrich our clients’ experiences with us, but also support them in achieving their business goals.
Our long-standing relationships, international outlook, and collaborative structure make us the go-to partner for the speedy resolution of complex disputes, transactions, and regulatory matters.
In Singapore, we are in a Formal Law Alliance with Resource Law LLC, with whom we share our offices.
