Watson Farley & Williams LLP (“WFW”) has advised Commonwealth Bank of Australia (“CBA”), one of the ‘big four’ Australian banks on the provision of a term loan facility for the purpose of financing of the acquisition of the dry bulk carrier vessel m.v. KOMI.

WFW drew on its long standing global relationship network to provide cost-effective and timely advice on matters of Singapore, English, Maltese and British Virgin Islands law. The vessel was built by Cosco Zhoushan and delivered in China, in relation to which WFW worked closely with Chinese law firm King & Wood Mallesons. The vessel was flagged in Malta, and WFW was pleased to work in tandem with Maltese counsel, Ganado Advocates.

The WFW London team was led by Asset Finance partner Patrick Kirkby, supported by associate Constance Daws.

Patrick Kirkby, Asset Finance partner at WFW, said: “It was a pleasure to assist CBA once more and to further develop our relationship. The successful completion of this transaction has assisted in continuing to grow CBA’s dynamic portfolio. The deal combined our expertise in asset finance and also drew on our strong international experience.”