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  • Photo: Kiwi Rail

05.10.2021

Artikel Nummer: 37950

Rail-enabled vessels with green finance


It is a new sustainable finance instrument for the shipping industry. In New Zealand, HFW is advising Kiwi Rail on a secured NZD 350 million (USD 244 million) pre- and post-delivery loan facility for its purchase of two newbuilding Interislander rail-enabled ferries. The newbuilds will be constructed in South Korea.

 

It is the first shipping loan to be certified by the climate bond initiative on a global scale. The facility is provided by Westpac NZ (facility agent), Société Générale (green loan coordinator), Bank of America, and National Australia Bank.

 

Kiwi Rail was advised by New Zealand law firm Russell McVeagh, with HFW providing specialist ship finance advice. HFW also advised Kiwi Rail on the negotiation of the vessel construction contracts and related refund guarantees. (cd)

www.hfw.com

www.kiwirail.co.nz

 

 

 

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