Stephenson Harwood Advised BNP Paribas on a $60 Million Sustainability-linked Secured Revolving Credit Facility to Cetus Maritime

Stephenson Harwood Advised BNP Paribas on a $60 Million Sustainability-linked Secured Revolving Credit Facility to Cetus Maritime

Stephenson Harwood has advised BNP Paribas on a US$60 million sustainability-linked, secured revolving credit facility (RCF) to Cetus Maritime group, a handysize dry bulk owner and operator.

The firm acted for BNP Paribas in its capacity as Agent, Security Agent and sustainability coordinator.

This RCF features a sustainability-linked margin adjustment, with a key performance indicator linked to the reduction of carbon intensity. The facility also provides the borrower with operational flexibility, including the ability to substitute vessels provided as security and to accommodate future changes to group entities.

The Stephenson Harwood team was led by Pedram Norton (Partner/ Singapore) who was supported by Yin Ling Ng (Associate) and Natania Peh (Associate). Further Hong Kong law advised was provided by Elton Chan (Partner/ Hongkong) who was supported by Tinnie Chan (Associate). Singapore law advised was provided by Colin Jarraw (Partner/ Virtus Law), who was supported by Jamie Loh (Associate) and Sylvia Lisa (Senior Paralegal).

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