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Representative Matters

Venture Capital/ Private Equity Funds:

 

  • representing a space-technology venture capital fund in the private placement of limited partnership interests under Rule 506(b) of Regulation D

 

  • representing the promoters of an offshore fund vehicle (Cayman Islands) in respect of the “variable interest entity (VIE),” wholly-owned foreign investment structure in the PRC through a “qualifying special purpose vehicle” established in Hong Kong

 

  • representing a domestic fund-of-funds in a private placement of notes under Rule 506(b) of Regulation D

 

  • representing KGI Partners, a Cayman Islands limited liability company, as general partner in respect of establishing the Korea Global IT Fund Limited Partnership

 

 

Structured Finance:

 

  • representing Standard Chartered Bank Korea as trustee of Dongbu Private and Special Asset Investment Trust No.11 on the issuance and sale by GCC SPL Ltd., a Cayman Islands exempt company, of direct, unconditional and unsecured fixed rate bonds in aggregate principal amount of US$39,500,000

 

  • representing The Export-Import Bank of Korea on issuance of Fixed Rate Synthetic Notes under a U.S.$25,000,000,000 Euro Medium Term Note Program

 

  • representing The Export-Import Bank of Korea on secondary distributions of USD Fixed Rate Notes and NZD Fixed Rate Notes

 

 

Acquisition (M&A) Finance:

 

  • representing Macquarie Korea Opportunities Fund (a private equity fund) on its leveraged buyout/financing of cogeneration and water treatment facilities from Samsung Total Petrochemicals Co., Ltd. including drafting and negotiating the term loan agreements and security documents

 

  • representing Macquarie Korea Opportunities Fund on its leveraged buyout/financing of SK E&S Co., Ltd., a city gas provider, including drafting and negotiating the term loan agreement and security documents

 

  • representing Woori Bank as mandated lead arranger in respect of KRW150,000,000,000 senior and junior term loan facilities in respect of the acquisition refinancing of Logen Co., Ltd.

 

  • representing Woori Bank as lender on a syndicated acquisition financing of Oman Telecom

 

  • representing HSBC as mandated lead arranger in respect of the leveraged buy-out/ financing structure relating to the sale of HomePlus by Tesco (UK)

 

 

Asset Finance:

 

  • advising The Export-Import Bank of Korea on a $574,400,000 export credit loan facility relating to a semi-submersible drillrig constructed by Samsung Heavy Industries Co., Ltd. chartered by Stena AB (of Norway);

 

  • advising The Export-Import Bank of Korea as senior facility agent on a $43,056,000 pre-delivery and delivery loan facilities in relation to two (2) 1,800 TEU gearless container carriers to be constructed by Dae Sun Shipbuilding & Engineering Co., Ltd. and chartered by Dong-A Tanker Corp.

 

  • advising The Export-Import Bank of Korea as senior facility agent on a $9,360,000 pre-delivery and delivery loan facilities in relation to one (1) 6,500 DWT oil/chemical tanker constructed by Dae Sun Shipbuilding & Engineering Co., Ltd. and chartered by Heung-A Shipping Co., Ltd.

 

  • advising Woori Bank as mandated lead arranger on a $19,244,600 pre-delivery payment financing in respect to Jeju Air Co., Ltd.'s acquisition of a Boeing 737-800 model aircraft

 

  • advising Hyundai Glovis Co., Ltd. on a senior and subordinated loan facility in relation to four (4) 84,000 CBM LPG Carriers to be constructed by Daewoo Shipbuilding & Marine Engineering Co., Ltd. on a bareboat charter hire purchase and CVC agreement

 

  • advising The Export-Import Bank of Korea on a $1.293 billion ECA post-delivery loan facility in relation to 8 LNG Tankers constructed by Samsung Heavy Industries Co., Ltd. and Hyundai Heavy Industries Co., Ltd. chartered by GasLog Ltd. (of Greece)

 

  • advising The Korea Development Bank as facility agent on the delivery of a 150,000 CBM liquefied natural gas carrier constructed by Hyundai Heavy Industries Co., Ltd., to be chartered under a contract of affreightment by Korea Gas Corporation in respect of the purchase and delivery of LNG from Yemen LNG and managed by ship operator Hyundai Merchant Marine Co., Ltd.

 

  • advising Credit Agricole Corporate and Investment Bank and The Korea Development Bank on a senior pre-delivery and post-delivery loan facility of up to $42,000,000 and a junior loan facility of up to $36,000,000, with a ship fund investment by Kookmin Bank as fund trustee, to finance two (2) bulk carriers constructed by New Times Shipbuilding Co., Ltd. and chartered to Hanjin Shipping Co., Ltd.

 

  • advising The Korea Development Bank as facility agent on the delivery of a 153,000 CBM liquefied natural gas carrier constructed by Hanjin Heavy Industries Co., Ltd., to be chartered under a contract of affreightment entered into by Korea Gas Corporation in respect of the purchase and delivery of LNG from Yemen LNG and managed by ship operator STX Pan Ocean Co., Ltd.

 

  • advising The Bank of Nova Scotia on a senior term loan facility of up to US$36,000,000 and a junior term loan facility of up to US$12,783,000, with Kookmin Bank as fund trustee in respect of a $18,217,000 ship fund investment, to finance a 180,000 dwt capsize dry bulk carrier constructed by Daewoo Shipbuilding & Marine Engineering Co., Ltd. and bareboat chartered to Korea Line Corporation

 

  • advising Ionia Management S.A. (Greece) as Seller and the Shipping Corporation of India as Buyer of one (1) 51,000 DWT Crude/Product Oil Tanker constructed by STX Offshore & Shipbuilding Co., Ltd.

 

  • advising the Bank of Nova Scotia Asia Limited as Agent and the Korea Development Bank as arranger on the financing of one (1) 180,000 DWT dry bulk carrier constructed by Daewoo Shipbuilding & Marine Engineering Co., Ltd. 

 

  • advising Fortis Bank Nederland N.V., Singapore Branch as Agent and the Korea Development Bank as arranger on the financing of two (2) 181,000 DWT dry bulk carriers constructed by Daewoo Shipbuilding & Marine Engineering Co., Ltd. and STX Offshore & Shipbuilding Co., Ltd.

 

  • advising on the termination of UK tax lease financing for three VLCCs with Barclays as lessor/credit guarantor and SK Shipping Europe PLC as lessee/charterer of the vessels

 

  • advising a Panamanian special purchase company established by Stellar Shipping Co., Ltd. (a wholly-owned subsidiary of SK Shipping Co., Ltd.) as bareboat charterer in the transfer of the rights and obligations under a bareboat charter hire purchase agreement and related collateral from Quatro World Maritime S.A. (a joint venture among SK Shipping Co., Ltd., Itochu Corp. and others), including drafting and negotiating the basic transfer agreement, security assignment agreement and refinancing agreements

 

  • advising the Korea Export Credit Corporation as export insurer on the buyer credit facility to be provided to a French shipping company and arranged by Calyon in respect to an LPG carrier to be constructed by Hyundai Heavy Industries Co., Ltd. 

 

  • advising the Korea Export-Import Bank on the refund guarantee to be issued in respect to Hanjin Heavy Industries & Construction Co., Ltd.’s obligations as builder under a shipbuilding contract

 

  • advising the National Agricultural Cooperative Federation of Korea on a secured term loan facility agreement to be arranged for Hanjin Heavy Industries & Construction Co., Ltd. as borrower/bareboat charterer

 

  • advising Standard Chartered Bank (Hong Kong) Limited as arranger on a $36,500,000 bridge facility for financing one (1) 79,800,000 dwt Kamsarmax bulk vessel constructed by Jiangsu Eastern Heavy Industries Co., Ltd. and bareboat chartered to Sinokor Maritime

 

  • advising Shinhan Bank, Industrial Bank of Korea and Kookmin Bank as joint arrangers on a $36,290,000 secured loan facility for financing the conversion of one (1) 258,080 DWT VLCC chartered to Sinokor Maritime Co., Ltd.

 

  • advising DVB Group Merchant Bank (Asia) Ltd. as arranger on a $29,500,000 secured term loan facility to finance five (5) IMO 2 zinc coated chemical tankers chartered to Woolim Shipping Co., Ltd. 

 

  • advising K-Sure on K-Sure covered export credit facility to finance three (3) 319,000 dwt class crude carriers constructed by Hyundai Heavy Industries Co., Ltd. and chartered to SK Shipping Co., Ltd.

 

  • advising K-Sure on K-Sure covered export credit facility of up to $162,000,000 to finance one (1) 154,800 cbm ice-class LNG carrier constructed by Hyundai Heavy Industries Co., Ltd. and chartered to Gazprom Global LNG UK

 

  • advising K-Sure on K-Sure covered export credit facility of up to $42,500,000 to finance one (1) 114,700 dwt product carrier constructed by Samsung Heavy Industries Co., Ltd.

 

  • advising Woori Bank on pre-delivery and post-delivery loan facility of up to US$55,800,000 to finance two capesize dry bulk carriers constructed by Sungdong Shipbuilding & Marine Engineering Co., Ltd.

 

  • advising Woori Bank on pre-delivery and post-delivery loan facility of up to US$24,080,000 to finance one (1) 82,000 DWT Kamsarmax bulk carrier constructed by Jiangsu Eastern Heavy Industry Co., Ltd.

 

  • advising Kookmin Bank and Shinhan Bank as arrangers and Hyundai Heavy Industries Co., Ltd. as subordinated lender in respect of two (2) 180,000 dwt capesize bulk carriers construed by Hyundai Heavy Industries Co., Ltd. and bareboat chartered to Chang Myung Shipping Co., Ltd.

 

  • advising The Korea Development Bank on a US$29,400,000 pre-delivery facility and a $66,150,000 post-delivery facility to finance one (1) 84,000 CBM class LPG carrier constructed by Hyundai Heavy Industries Co., Ltd. and bareboat chartered to KSS Line Corp.

 

  • advising Samsung Heavy Industries Co., Ltd. as lender on a US$12,500,000 term loan facility to finance two (2) 115,200 and 158,300 dwt crude oil tankers constructed by Samsung Heavy Industries Co., Ltd. and owned by Dryships Inc.

 

  • advising Samsung Heavy Industries Co., Ltd. as subordinated lender on a US$81,000,000 subordinated loan facility to finance one (1) deepwater drillship constructed by Samsung Heavy Industries Co., Ltd. and chartered to Petrobras

 

  • advising the facility agent on a $200,000,000 export credit loan facility in respect of Siberian Coal Open Joint Stock Company in relation to K-Sure

 

  • advising K-Sure on the export credit loan facilities restructuring in respect of Hapag-Lloyd, a German global shipping company

 

 

Projects/Project Finance:

 

  • representing Korea Gas Corporation on its participation in a consortium (including Mitsui Co., Ltd. and Samsung C&T Corporation) for private bid on the Manzanillo LNG Terminal project in Mexico, including negotiating the Members’ Agreement, Service Contract (with Electricity Commission of Mexico), Environmental Indemnity Agreement, O&M Contract and Technical Services Agreement

 

  • representing HSBC as ECA Agent on a export-credit insurance covered senior facility financing for a desalination project in Victoria, Australia including advising in relation to the export credit insurance policy issued by Korea Export Insurance Corporation (International Financing Review Deal of the Year (Country Award – Australia)

 

  • representing the mandated lead arrangers on the Uijongbu LRT Project (International Financial Law Review Project Finance Deal of the Year) under the PPI scheme in Korea, including risk review of project documents (i.e., concession agreement, operation and maintenance agreement)

 

  • representing the offshore and domestic arrangers on the privately-invested Pusan New Port construction project in Korea, including risk review of project documents such as concession agreement, construction agreement, shareholders agreement, operation, maintenance and management agreement

 

  • representing the offshore lenders on the privately-invested Kangnam Beltway construction project in Korea, including risk review of concession agreement between project company and the Korean government

 

  • representing Macquarie Bank of Australia on the very first foreign participated private infrastructure project in Korea under the “private participation in infrastructure” (“PPI”) scheme, the Soojungsan Tunnel construction project, including drafting and negotiation of a sale and purchase agreement and escrow agreement

 

Banking:

 

  • representing Deutsche Bank AG, Hong Kong Branch as mandated lead arranger in respect of a EUR20,000,000 credit facility for Mando Corporation Poland SP. Zoo as borrower;

 

  • representing Sumitomo Mitsui Banking Corporation as facility agent in respect of a US$60,000,000 credit facility for Powertech America, Inc., a wholly-owned subsidiary of Hyundai Powertech Co., Ltd.

 

  • representing ScotiaMocatta (division of Scotia Capital) in respect of a precious metals consignment agreement (notional value US$23 million) 

 

  • representing Kookmin Bank as lender on a US$20,000,000 term loan facility for SK Shipping (Singapore) Pte Ltd guaranteed by SK Shipping Co., Ltd. (Korea)

 

  • representing United Overseas Bank Limited of Singapore on the collateral security over certain oil gas cargo in relation to a US$20,000,000 letter of credit facility issued in favor of a Singaporean oil import/export company

 

  • representing Hana Bank on refinancing of a KRW35 billion term loan facility for Sithe Ichon Cogeneration Co., Ltd.

 

  • representing KDB Ireland (Limited) as agent on a US$20,000,000 term loan facility for SK Shipping Europe PLC guaranteed by SK Shipping Co., Ltd. (Korea)

 

  • representing The Korea Development Bank, Calyon (Seoul Branch) and KDB Asia Limited as mandated lead arrangers on a US$50 million term loan facility for Samsung Hongkong Limited (a subsidiary of Samsung Corporation) as borrower

 

  • representing ING Asia Limited as agent and mandated lead arranger on a US$100 million term loan facility for Samsung America as borrower

 

  • representing ING as facility agent on a US$150 million bridge loan facility for Samsung Oil & Gas USA Corp.

 

  • representing Calyon (Seoul Branch) as mandated lead arranger and agent on a US$100 million term loan facility for SK Telecom as borrower

 

Restructuring:

 

  • representing Korea Line Corporation, a global shipping company, on its Korean rehabilitation reorganization proceedings, including obtaining (stay) orders for recognition of rehabilitation in US, Canada, Australia, England, Japan, New Zealand, Spain, South Africa, Belgium and Singapore

 

Real Estate:

 

  • representing Hyundai Securities Co., Ltd. in respect of the purchase of a AU$248 million turn-key real property in Canberra, Australia from a German-based fund

 

  • representing Midan City Development Co., Ltd. on the sale/lease of real estate to US and PRC investors

 

  • representing a Korean newspaper company on the disposal of its office building to a Singapore-based hedge fund

 

M&A:

 

  • representing Atinum Partners, a private equity fund, on the acquisition of the US-based subsidiary oil/gas producer of Sterling Energy UK, a publicly listed energy company in the UK;

  • representing on the share acquisition and merger of two Korean securities and investment companies, including negotiating the master agreement, acquisition agreement and share pledge agreement

 

Corporate/Commercial:

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  • representing Clarity Partners, a US private-equity fund, in respect of establishment of a subsidiary in Korea

 

  • representing Cummins, Inc. in respect of a Contract Services Agreement with a Korean subcontractor

 

  • representing Poloralphlauren Korea in respect to the transfer of certain Korean personnel from Doosan Corporation

 

  • representing Hyundai Steel Company of Korea on drafting of sale and purchase agreements for coking coal and iron ore to be used with major suppliers

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