Financial Partners Group Co., Ltd. - Container Vessel Leasing Project for Ocean Network Express Pte. Ltd.
Nishimura & Asahi advised Financial Partners Group Co., Ltd. (FPG) [TSE:7148] on a leasing fund business project targeting four container vessels to be built at a shipyard in Japan. Upon completion, the vessels will be chartered to Ocean Network Express Pte. Ltd., a container shipping company based in Singapore. The project will be financed by loans provided by the Japan Bank for International Cooperation (JBIC), BNP Paribas (acting through its Tokyo Branch) (ECA Coordinator), The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch, and Citibank, N. A., Tokyo Branch. Loan insurance on the commercial bank loans will be provided by Nippon Export and Investment Insurance (NEXI). This transaction is JBIC’s and NEXI’s first participation in vessel financing via a Japanese Operating Lease with Call Option (JOLCO) structure.
The container vessels involved in this project have been certified under “Certification System for Advanced Vessel Introduction Plan” and the “Certification System for Ocean-going Vessel Procurement Plan”, each established by the Ministry of Land, Infrastructure, Transport and Tourism. These certifications qualify the project for a special depreciation system that allows for an increased depreciation rate for the initial year of vessel acquisition.
The team was led by partner Kosuke Shibukawa.
Kosuke Shibukawa supports both domestic and foreign banks, leasing companies, other financial institutions, airlines, and shipping companies in a wide range of financing transactions, including asset finance, banking, and acquisition finance transactions.
In particular, in asset finance transactions, including domestic and cross-border aircraft, ship, and marine container lease and sale transactions, Kosuke provides advice based on his extensive knowledge and experience throughout the entire process, from structuring, documentation, negotiation, and deal execution, to ensure smooth transaction execution.
He has been involved in many cross-border project finance transactions, particularly for floating production, storage and offloading systems (FPSO), and floating storage and offloading systems (FSO), and advises a wide range of domestic and foreign financial institutions.