Milbank LLP represented BNP Paribas Seoul Branch and The Hongkong and Shanghai Banking Corporation Limited (as bookrunners and ECA coordinators), BNP Paribas S.A. and HSBC Continental Europe (as green loan coordinators), the mandated lead arrangers, the Export-Import Bank of Korea (KEXIM) and the Korea Trade Insurance Corporation (K-Sure) in connection with the financing and development, by Korean national champion EcoPro BM, of a US$1.492 billion cathode active materials plant with an annual capacity of c.108,000 tons in Debrecen, Hungary.
The financing, valued at $860 million, is the first time a Korean cathode material company has received ECA funding in the trillion-won range for overseas investments and marks a significant enhancement of EcoPro BM's position in the growing EV market in Europe.
The Milbank deal team was led by Global Project, Energy and Infrastructure Finance partner David Gartside in Seoul and included Seoul-based associate Chloe Kim and Tokyo-based associates Anthony Scott and Michaël Tiralongo.
