Pure Energy, owned by George Prokopiou, has reached a $1.1 billion agreement for the sale and leaseback of five liquefied natural gas (LNG) carriers with a total capacity of 200,000 cubic meters with the Chinese company CMB Financial Leasing.
Pure Energy, owned by George Prokopiou, has reached a $1.1 billion agreement for the sale and leaseback of five liquefied natural gas (LNG) carriers with a total capacity of 200,000 cubic meters with the Chinese company CMB Financial Leasing.
As TradeWinds reports, the deal was originally contracted with Dynagas, also of the Greek shipowner’s interest, and involves the five new buildings ordered last year by the aforementioned company to HD Hyundai Heavy Industries.
Law firm Watson Farley & Williams acted as advisor to CMB Financial Leasing on the deal, which includes terms relating to the financing before and after delivery of the vessels, terms which the paper said were drafted on the basis of long-term agreements by several chartering groups.
Pure Energy is controlled by the Greek shipowner and focuses on the adoption of clean energy solutions through sustainable practices and digital innovations.
Shanghai-based CMB Financial Leasing, a subsidiary of China Merchants Bank, provides leasing solutions to large, medium, and small enterprises across China.
Watson Farley & Williams’ Hong Kong-based asset and structured finance team, which advised CMB Financial Leasing, was led by partner Christopher Bisbikos, assisted by partner Dora Ying, and associate Jennie Wong.