Watson Farley & Williams has advised BNP Paribas on a $1.17 billion loan to Vancouver-headquartered container service company Seaspan, which was represented by Squire Patton Boggs. The proceeds will be used by Seaspan to fund 15 dual-fuel container vessels.

BNP Paribas is one of the several financial institutions that arranged and underwrote the loan, which uses the financing structure called Japanese Operating Lease with Call Option. Other institutions include Bank of China and the Development Bank of Japan.

The WFW team was led by Asia Group head and Hong Kong partner Madeline Leong and Singapore partner Lizzie Roe.