Holman Fenwick Represents Mizuho And New Lenders In Modification Of CBK Power’s US$170 Million Debt

LAWFUEL – Legal Newswire – Holman Fenwick & Willan’s Singapore office represented Mizuho Corporate Bank, Ltd., as mandated lead arranger and bookrunner, and new lenders in the modification of the existing US$170m senior debt facility of CBK Power Company Limited, a Philippine limited liability partnership jointly owned by J-Power and Sumitomo Corporation.

The debt modification, which closed on 7 December 2007, involves the transfer of the debt facility by exiting lenders to new lenders and amendments to the facility’s terms and conditions.

Partner, Lian-Yok Tan, who leads the team from Holman Fenwick & Willan, commented, “This deal shows that a strong project with reputable and experienced arrangers and sponsors can achieve successful close in less than 3 months, despite concerns over impact of the US sub-prime crisis on Asia.”

The senior debt facility was signed in year 2000 to finance CBK Power Company’s construction and rehabilitation of its 728 MW pump storage hydro facility in the Philippines.

Singapore, 24 January 2008

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