A&O Shearman Advises Lenders on EUR514.4 Million Financing for Easpring Finland CAM Plant

A&O Shearman advised the lenders and export credit agencies on the EUR514.4 million project financing for the development and construction of Easpring Finland New Materials Oy’s cathode active material (CAM) production plant in Kotka, Finland. The financing will support Finland’s first CAM production facility, a joint venture borrower owned by subsidiaries of Beijing Easpring Material Technology Co., Ltd. and Finnish Minerals Group Oy, with a 1.7% minority stake held by LG Energy Solution, Ltd. Once operational, the plant will produce 60,000 tonnes of cathode active material per year, sufficient to equip approximately 750,000 electric vehicles. The project received a Business Finland investment grant of up to EUR115.4 million under the EU Temporary Crisis and Transition Framework, and the main facilities are structured as green loans in accordance with the LMA Green Loan Principles. A&O Shearman represented the lenders and export credit agencies with a team composed by: Lorraine Bayliss (Partner, London, Energy, Natural Resources and Infrastructure); Megan Chen-Schlote (Counsel, London); Chinedu Ihenetu-Geoffrey (Senior Associate, London); associates Kyra Chong and Kavya Nankani; and trainees Kevin Hogan and Vivek Bilous. Hong Kong law was advised by Roger Lui (Partner, Hong Kong SAR) with support from Kate Mao (Associate). Specialist sanctions advice was provided by Matthew Townsend (Partner, London) and Ming He Tan (Associate, London). Specialist environmental advice was provided by Tom d’Ardenne (Counsel, London) and Ming Zee Tee (Associate, London).

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A&O Shearman Advises Lenders on EUR514.4 Million Financing for Easpring Finland CAM Plant

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A&O Shearman Advises Lenders on EUR514.4 Million Financing for Easpring Finland CAM Plant

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