Milbank LLP’s role in the $860 million financing of a cathode active materials plant in Hungary was recognized at the Asian Legal Business (ALB) Korea Law Awards 2024. The transaction won in the Project Finance Deal of the Year category.
Milbank 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. The financing marked the first time a Korean cathode material company has received ECA funding in the trillion-won range for overseas investments.
“This transaction expands on Korea’s growing share of the electric vehicle market in Europe,” said Seoul-based partner David Gartside. “We are honored to have the opportunity to work with clients and investors that are contributing to EV transition and the diversification of the world’s transportation fleets.”
The Milbank 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.
Learn more about the ALB Korea Law Awards 2024.
