Ashurst represents a lending syndicate led by ANZ on US$280 million green loan facility to SK Battery
18 August 2023
Global law firm Ashurst advised Australia and New Zealand Banking Group Limited, Banco Bilbao Vizcaya Argentaria, S.A. New York Branch, KEB Hana Bank NY Agency, Bank of China Limited, Grand Cayman Branch, Credit Industrial et Commercial, Hong Kong Branch and ABC Seoul in relation to the US$280 million Green Loan Credit Agreement to SK Battery America, Inc. to finance capital expenditure in relation to an electric vehicle battery plant in the US.
SK Battery America is the global leading battery manufacturer for electric vehicles. This financing comes at a time where North America is currently seeing an unprecedented expansion of the EV battery manufacturing capacity this decade in order to support the upcoming massive shift toward electric cars.
Ashurst has also previously represented the joint mandated lead arrangers and bookrunners on the US$450 million syndicated green loan to SK Battery America, Inc. for the construction and development of electric vehicle battery plants in the US.
The transaction was led by a joint team from Singapore and New York, led by partners Jean Woo and Michael Neary, supported by Jake Sng, Matthias Goh and Nathan Huynh.
