October 19, 2018

BNP Paribas closes landmark box Jolco

BNP Paribas as sole arranger, as well as lender and fixed rate provider, closed in October the refinancing of a portfolio of 10,000 marine containers for Minsheng Financial Leasing through a Jolco with head lease and sub-lease structure.

The deal represents the first Jolco transaction to be closed on marine containers for a Chinese financial leasing house.

The financing involved structuring on top of existing management and lease arrangements, and incorporating hedging facilities to stabilise interest rates.

Law firm Stephenson Harwood (Singapore) Alliance advised Minsheng Financial Leasing.