The deal provided senior and junior term loan facilities for a Korean shipping company to acquire five very large ore carriers to be built by a Korean shipbuilder.  The total amount of the contract price for the five vessels was approximately USD 170 million.

The junior lender is a fund trustee managed by a Korean asset management company, where various commercial banks, securities companies and insurance companies participate as beneficiaries.  A separate statutory institution provided a guarantee for senior lenders.

Kim & Chang provided legal counsel to the junior lenders as well as the guarantor, being involved in all stages of the transaction from the deal structuring, negotiation, documentation, governmental filing, to the closing stage.

While acting as legal counsel to the lenders and guarantor of various types of financial institutions spanning from commercial banks, securities companies, insurance companies and government controlled statutory institutions, our firm was also able to successfully accommodate complications or difficulties arising from various areas that those institutions were facing to ensure a seamless closing of the deal.