Watson, Farley & Williams (“WFW”), a leading international law firm, has advised a consortium of banks and Sace on a US$57,800,000 financing to PT Asian Bulk Logistics.

The loan has been provided by leading European banks, including Italian bank Carige. Sace, the Italian insurance and financial group, acted as guarantor for the borrower on 50% of the loan.

PT Asian Bulk Logistics is part of the Coeclerici Group, a leading global operator in the provision of integrated services for the procurement of raw materials, especially coal, for the steel and energy industries. The facility will be used to partly refinance the purchase of four floating transfer stations designed for coal transshipment, which are currently employed in Indonesia on the basis of ten-year contracts by a primary Indonesian coal producer and exporter.  The last tranche of the loan was successfully drawn-down in May 2013.

WFW Rome partner Furio Samela led on the deal, supported by associate Michele Autuori, London partner Lindsey Keeble, and trainee Siavush Mokhtar, and Singapore associates Chien Herr Lee and Angelique Kounis.

Jakarta-based law firm ABNR advised the lenders and SACE on the Indonesian law aspects of the transaction, while Giuliana Losavio, in-house counsel at Coeclerici, and Indonesian law firm SSEK , Dyah Soewito and Michael Twomey  acted for the borrower on the English, Italian and Indonesian law aspects of the transaction.