Taiwanese container line Evergreen Marine has clinched $77.1m of financing for new boxships under construction at Hyundai Mipo Dockyard.
Law firm Watson Farley & Williams (WFW) said it had advised the Spanish lender Banco Santander on the deal, as well as export credit agency Korea Trade Insurance Corporation (K-Sure).
This is Evergreen's first K-Sure backed financing.
The cash will fund four Taiwanese-flagged vessels being built in South Korea.
The 1,800-teu feeders are delivering this year. The first was handed over in January and the second in March.
The loan matures over 10 years, but interest rate was not revealed.
The WFW Hong Kong maritime team was led by partner Madeline Leong and supported by senior registered foreign lawyer Jonathan Keats and associate Kristy Kong.
'Landmark transaction'
Leong called the deal a "landmark" for a market-leading bank.
She added the transaction underlined WFW's status as a leading legal adviser to the ship finance industry, especially regarding export credit agency work.
Last month, Evergreen awarded Samsung Heavy Industries (SHI) a 20-ship order for neo-panamaxes.
The Taipei-listed shipowner is paying between $115m and $130m for the 15,000-teu vessels.
SHI told the Korea Exchange the deal totalled KRW 2.81trn ($2.48bn).
And the yard told TradeWinds this is the largest contract it has received from any single shipowner.
Banco Santander is the world's 16th biggest financial institution.
As part of its sustainability initiatives, the bank aims to raise over €120bn ($144bn) in green financing by 2025.
