HFW Advising KiwiRail On Shipping Industry's First Climate Bond Initiative-Certified Financing

HFW is advising KiwiRail on a secured NZ$350m pre- and post-delivery loan facility for its purchase of two newbuilding Interislander rail-enabled ferries to be constructed in Korea.

It is the world's first shipping loan to be certified by the Climate Bond Initiative.

The facility is provided by Westpac NZ (Facility Agent), Société Générale (Green Loan Coordinator), Bank of America, and National Australia Bank.

KiwiRail was advised by New Zealand law firm Russell McVeagh, with HFW providing specialist ship finance advice on the facility agreement and security documents.

HFW also advised KiwiRail on the negotiation of the vessel construction contracts and related refund guarantees.

HFW's team advising on the vessel construction contracts was led by William MacLachlan and Elinor Dautlich, and also included Alex Sayegh and Denis Nifontov. HFW's John Forrester and Katherine Noble advised KiwiRail on the ship finance aspects of the transaction.

About HFW

HFW is a leading global law firm in the aerospace, commodities, construction, energy and resources, insurance, and shipping sectors. The firm has more than 600 lawyers, including 185 partners, based in offices across the Americas, Europe, the Middle East and Asia-Pacific. HFW prides itself on its deep industry expertise and its entrepreneurial, creative and collaborative culture.

For further information, please contact:

Chris Johnson
Head of Communications
D +44 (0)20 7264 8159
M +44 (0)7976 939864
E[email protected]

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