White & Case Advises on the First International Project Financing in Brunei Darussalam

Hong Kong / Tokyo September 12, 2007 ... White & Case has advised on the $360 million limited recourse financing of the construction of an 850,000 tonne per year methanol facility at the Sungai Liang Industrial Park in Brunei, the first international project financing in Brunei and a deal which will set the precedent for future project financings in Brunei.

White & Case represented The Japan Bank for International Cooperation ("JBIC") and the commercial lenders (The Bank of Tokyo-Mitsubishi UFJ, Mizuho Corporate Bank, Sumitomo Mitsui Banking Corporation and Standard Chartered Bank). The Bank of Tokyo-Mitsubishi UFJ is also the financial adviser for the Project, which is scheduled to be completed in the fourth quarter of 2009, with commercial operations to commence in the second quarter of 2010.

"We are honoured to be involved in this historic project financing," says White & Case partner in Hong Kong who led the team representing JBIC and the commercial lenders. "Methanol demand is increasing year-to-year worldwide and we believe the Brunei Methanol Project will be an important supplier and one of the largest exporters of methanol in Asia once completed. This deal emphases the strong trade relationship between Brunei and Japan."

The White & Case team included Adrian Lawrence and Simon Ross in Hong Kong, and Hendrik Gordenker, Simon Collins and Lupus Sabene in Tokyo.

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Contact:
Patrick Dransfield
Marketing Director, Asia-Pacific
White & Case LLP
852 2822 8700