LEASING, CAPITAL MARKETS AND COOPERATION BETWEEN … WFW... · LEASING, CAPITAL MARKETS AND COOPERATION . BETWEEN ASIAN AND WESTERN SHIPPING . MODERATOR – CHRISTOFOROS BISBIKOS,

LEASING, CAPITAL MARKETS AND COOPERATION BETWEEN ASIAN AND WESTERN SHIPPING

MODERATOR – CHRISTOFOROS BISBIKOS, PARTNER, WATSON FARLEY AND WILLIAMS LLP 7 APRIL 2016

Watson Farley & Williams 2015

Panelists

PANEL MR. MICHAEL CHAN, Senior Vice President, Market Development Division,

Hong Kong Exchanges And Clearing Limited MR. CHRISTOS TSAKONAS, Regional Head of Asia - Shipping, Offshore and

Logistics, DNB Bank ASA MS. LING ZHOU, Head of Shipping Finance, China Merchants Bank Financial

Leasing MR. JERRY YANG, Chief Marketing Officer Minsheng Financial Leasing Co., Ltd MR. ERIK STRØMSØ, Managing Partner, Pareto Securities MR. SHEN ZHAO, Deputy General Manager, Risk Management Department,

CSSC (Hong Kong) Shipping Company Limited

Slide 2


Questions

Slide 3


Given the change in China's economic approach, the consequential mandate for foreign investments and the low values of assets in most shipping related sectors, is now the right time for Chinese PE funds, leasing houses or other investors to join forces with international shipowners by forming joint ventures?

Slide 4


Would leasing houses be interested in investing in shipping, either by acquiring distressed assets in the problematic sectors or by buying new ships in any of the healthy sectors, by way of equity contributions?

Slide 5


Would the HKSE be the right place for any such synergies to seek financing/additional investors and possibly constitute a viable exit platform to grasp the benefit of any upside in an investment?

Slide 6


Would listing in the HKSE form a platform for western shipowners to create relationships in Asia and would this be of a benefit to them going forward?

Slide 7


PRC Leasing is the flavor of the month in asset financing: do you see demand for PRC leasing being affected by the current shipping environment, will the leasing houses diversify their investment focus in terms of type of asset they would finance and do you expect that PRC leasing houses are looking more these days towards international investments?

Slide 8


Are western banks willing to increase their exposure in terms of financing lessors in the context of leasing transactions and would an existing client of such banks make such a project more appealing and perhaps be enough to mitigate some of the lessors' risk?

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Moderator

CHRISTOFOROS BISBIKOS Partner Hong Kong +852 6700 6750 [email protected]

Summary Christoforos Bisbikos’s practice focuses on various cross-border asset financings including ECA-related financing, leasing, project financings, loan restructurings, work-outs and enforcement. During the past 11 years, Christoforos has been acting for most leading banks in the shipping sector, Chinese leasing entities as well as for a number of shipping companies. He is also engaged in other various shipping projects, such as acquisition of vessel fleets, including by way of acquisition of a business as a going concern.

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All references to ‘Watson Farley & Williams’ and ‘the firm’ in this presentation mean Watson Farley & Williams LLP and/or its Affiliated Undertakings. Any reference to a ‘partner’ means a member of Watson Farley & Williams LLP, or a member or partner in an WFW Affiliated Entities, or an employee or

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Documents

LEASING, CAPITAL MARKETS AND COOPERATION BETWEEN … WFW... · LEASING, CAPITAL MARKETS AND COOPERATION . BETWEEN ASIAN AND WESTERN SHIPPING . MODERATOR – CHRISTOFOROS BISBIKOS,