WFW advised Höegh LNG Partners on IPO
Watson, Farley & Williams (WFW), a leading international law firm, advised Höegh LNG Partners LP (HMLP) on its recently completed IPO on the New York Stock Exchange.
HMLP raised US$ 220.8 million in gross proceeds in the IPO, selling approximately 11 million common units at US$ 20 each.
HMLP was formed by Höegh LNG Holdings Ltd., and the units sold to the public in the IPO represent a 42% limited partner interest in HMLP, with Höegh LNG holding the remaining 58%.
Working alongside Vinson & Elkins LLP, who acted as US legal advisor to HMLP, WFW New York provided Marshall Islands law advice and WFW London provided English law advice relating to HMLP’s underlying contracts and financial arrangements.
HMLP owns and operates floating storage and regasification units (FSRUs), which act as floating LNG import terminals. WFW recently advised Höegh LNG on its US$ 412 million financing of two FSRU newbuildings, and the contractual arrangements for the FSRU Independence.
The WFW team was led by New York Corporate partner Steven Hollander and by London Maritime partner David Osborne.
Image courtesy of Höegh LNG Partners.
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/floating-lng/19082014/wfw-advises-hoegh-lng-on-ipo-1239/
You might also like
EIA: US natural gas trade will continue to grow with the start-up of new LNG export projects
The U.S. Energy Information Administration’s recently released Short-Term Energy Outlook forecasts that US LNG exports will continue to lead growth in US natural gas trade as three LNG export projects currently under construction start operations and ramp up to full production by the end of 2025.