Watson, Farley & Williams Asia Practice (WFWAP) is among a trio of firms that have advised Fred. Olsen Energy ASA group on the $ 1.5 billion refinancing of its subsidiary Dolphin International AS, with Allen & Gledhill among the firms advising the lenders.
WFWAP has acted as English and Singapore law counsel for Fred Olsen, with Simonsen Advokatfirma advising on matters relating to Norwegian law, and Webber Wentzel acting as South African counsel.
The facility was provided for the purposes of refinancing Dolphin’s existing bank loans, the financing of the newbuild drillship Bolette Dolphin and for Dolphin’s general corporate purposes.
The facility was provided by a syndicate of 12 international banks and Norwegian Institute for Export Credits. The lenders were advised by Bugge, Arentz-Hansen & Rasmussen (lead counsel and Norwegian counsel), Allen & Gledhill (Singapore counsel, Norton Rose’s Hong Kong office (English counsel), and DLA Cliffe Dekker Hofmeyr (South African counsel).
Dolphin owns and operates a fleet of six semi-submersible drilling rigs and two drillship (including the newbuild Bolette Dolphin, built by Hyundai Heavy Industries in South Korea, which is due for delivery in 2013). The fleet operates in a variety of locations including the North Sea, Latin America, Africa, and South Asia.
The WFWAP team was led by partner Goh Mei Lin, and included partner Jin Ng.
Ranajit Dam is Southeast Asia Editor at ALB. Follow us on Twitter:@ALB_Magazine.
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