Yun (Jonathan) Wang

Senior Associate Corporate, Finance and Investments

Jonathan has extensive experience on project development and project financing in the offshore oil & gas, energy and infrastructure sectors acting for both sponsors and lenders. He has considerable experience in advising on offshore oil & gas asset classes including FPSO, FLNG, LNG carriers and topside equipment.

His recent experience also includes development of I(W)PP projects in the Middle East and South East Asia, advising clients on due diligence of project documents, negotiation of EPCI, O&M and LTSA with contractors and associated project financing.

In addition to his experience in the energy and project financing space, Jonathan has very strong credentials advising banks, ECAs, financial institutions and borrowers on a vast range of financing transactions including, corporate financing, structured leasing, note offerings and asset based financing.

Practice Areas

Energy & Natural Resources Project Finance Infrastructure Finance and Development LNG Financial Institutions

Matters

Project Development

advising a Korean utility company in relation to its bid for I(W)PP projects in the Kingdom of Saudi Arabia and the State of Qatar. Primary scope of work includes due diligence into the bid document package and attending to queries from potential project lenders on various issues. Additional scope also included drafting EPC and O&M Term Sheets with relevant sub-contractors.

advising Keppel Capital Holding Pte. Ltd. for an FLNG project in Africa (ongoing) with scope of work including the development and structuring of the project including negotiation of the debt

1 www.kslaw.com 1 financing term sheet and due diligence on the upstream offtake agreements and construction documents in respect of the financing.

advising MODEC, Inc. with its bid for EPCI and O&M contracts in connection with an FPSO to be chartered to a group of charterers lead by Woodside Petroleum in connection with the SNE oil project in Senegal resulting in Modec being awarded the FEED contract.

advising POSCO DAEWOO INTERNATIONAL in relation to various EPC and operational issues in connection with the Shwe Project Offshore Western Myanmar.

advising MODEC, Inc. with its bid for the EPCI and O&M contracts in connection with an FPSO to be chartered by a joint venture comprising of ConocoPhillips, SK E&S and Santos in connection with the Barossa Project in Northern Territory, Australia resulting in Modec being selected for the FEED contract.

advising MODEC, Inc., Mitsui & Co., Ltd. and Mitsui O.S.K. Lines, Ltd, on their joint participation in a long-term charter of the AREA1 MV34 FPSO system to the Mexican subsidiary of ENI S.p.A to be operated off the coast of Gulf of Mexico including development of the project and negotiation of the lease and operating agreement, construction contracts, operation and maintenance contracts, shareholders agreement and advising on the subsequent project financing from commercial banks including MUFG Bank, Ltd., Sumitomo Mitsui Banking Corporation and ING Bank N.V.

advising MODEC, Inc., Mitsui & Co., Ltd., Marubeni Corporation, Mitsui O.S.K. Lines, Ltd and Mitsui E&S Holdings Co., Ltd. on their joint participation in a long-term charter of the LIBRA MV31 FPSO system to a consortium comprising of Petrobras, Total, Shell, CNPC and CNOOC off the coast of Brazil, including development of the project and negotiation of the lease and operating agreement, construction contracts, operation and maintenance contracts, shareholders agreement and advising on the subsequent project financing provided through JBIC financing and NEXI insurance cover.

advising KEPCO with on their bid for the DEDEDO IPP project in Guam our scope of work includes review of PPA, GSA, main construction contracts and structuring of the project finance debt.

Project Financing / Other Financing

advising JBIC and Asian Development Bank (ADB) on the project financing for the US$1.5 billion, 2,500MW Gulf SRC Power Project in Thailand. The sponsors are Mitsui & Co., Ltd and Gulf Energy Development Public Company Limited and our scope of work included the negotiation of the debt financing term sheet, due diligence on EPCI, PPA, LTSA, SPC shareholders agreement and other projects and drafting of the key finance documents.

advising Mitsui & Co., Ltd., MODEC, Inc., and other project sponsors on the US$1.1 billion 144A project bond issue, arranged by Citibank, N.A. for the refinancing of the CERNAMBI SUL MV24 FPSO project offshore Brazil, this transaction is the first time a listed project bond has been issued for the FPSO asset class.

advising JBIC, NEXI, ING Bank N.V., Sumitomo Mitsui Banking Corporation and other senior lenders on the project financing of the SEPIA MV30 FPSO system under a long term charter to Petrobras in the Sepia oil field. Awarded Upstream Oil & Gas (Latin America category) deal of the year 2018 by Infrastructure Journal.

2 www.kslaw.com 2 advising JBIC, Sumitomo Mitsui Banking Corporation and other senior lenders on the project financing of the TARTARUGA MV29 FPSO system under a long term charter to Petrobras in the Tartaruga Verde oil field.

advising JBIC, Sumitomo Mitsui Banking Corporation and other senior lenders on the project financing of a FPSO system to Tullow Ghana Limited for use in the Tweneboa, Enyenra, and Ntomme fields in offshore Ghana. Awarded African Upstream Oil & Gas Deal of the Year 2013 by Infrastructure Journal.

advising JBIC and other senior lenders across the project financings for the Gas Opportunity MV20, TUPI MV22, Guara MV23, Cernambi Sul MV24, Guara MV26 FPSO systems.

advising JBIC, Mizuho Bank, Ltd. and MUFG Bank, Ltd. on the project financing of an LNG vessel for K-Line and INPEX Corporation to be chartered in relation to the Ichthys LNG project by a joint venture between INPEX Corporation and Total S.A.

advising Mizuho Bank, Ltd. and MUFG Bank, Ltd. on the project financing of an LNG vessel for Kawasaki Kisen Kaisha to be chartered in relation to the Ichthys LNG project by INPEX Corporation.

advising Equinor, Mitsui & Co., Ltd. and K-Line and others on the refinancing and unwinding of UK tax leases with respect to two LNG vessels, including JBIC as an original lender.

advising Sumitomo Mitsui Banking Corporation on the refinancing of three VLGC vessels chartered to Oman Gas Company.

advising Mizuho Bank, Ltd. and other senior lenders on refinancing of two LNG carriers in connection with the Petronet LNG gas project.

advising Sumitomo Mitsui Banking Corporation and NEXI on the un-tied two step term loan facility to Alpa Bank.

advising ORIX Corporation on the bid and three part shipping portfolio acquisition from the Royal Bank of Scotland Plc.

advising ORIX Corporation on its global multi-currency revolving term facility arranged by Standard Chartered Bank and ANZ.

advising Mizuho Bank, Ltd. on its financing to B. Braun Aesculap Japan Co., Ltd. for a medical equipment factory in Ibaraki prefecture Japan.

advising Sumitomo Mitsui Banking Corporation on the financing of two petrochemical tankers chartered to Sinochem Corporation.

advising Sumitomo Mitsui Financing and Leasing Company Limited on the financing, sale and lease back, instalment sales and deferred payment transactions in relation to six bulk carrier vessels.

Corporate

advising MODEC, Inc. on the merger of its Brazilian subsidiary including advice on the impact across multiple ongoing projects and related financing arrangements in connection with the merger.

advising Mitsui E&S Holdings Co., Ltd. on the divesture of its minority equity stake across a fleet of FPSO projects operating in Brazil and Ghana including advice on issues concerning the ongoing projects and related financing arrangements in connection with the divesture. 3 www.kslaw.com 3 advising Marubeni Corporation on the restructuring of its equity stake across a fleet of FPSO projects operating in Brazil and Ghana including advice on issues concerning the ongoing projects and transfers of related party loans.

Credentials EDUCATION B.A., Economics, University of Western Australia, distinction LL.B., University of Western Australia, distinction

ADMISSIONS England and Wales Western Australia

LANGUAGES Japanese Mandarin Chinese

News IN THE NEWS September 6, 2019 • Source: Latin Lawyer John McClenahan, Mark Davies, Kevin Manz and Jonathan Wang represent Modec in a $1.1B refinancing of offshore oil platform in Brazil's Santos Basin

RECOGNITION April 14, 2020 King & Spalding Advises on Marine Money’s Offshore Innovation Deal of the Year

January 18, 2019 King & Spalding Earns Multiple Top-Tier Rankings in Legal 500 Asia-Pacific 2019 Guide

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