Ship and offshore finance
Acting for international banks and financial institutions with significant presence in the shipping finance market in connection with syndicated and bilateral loan facilities, restructurings intercreditor arrangements, assignments of loan and security.
Advising a German bank in relation to a US$232 million syndicated loan facility where the security was granted in favour of all three lenders, rather than a security agent, including acting for the agent in connection with the assignment of the lenders' security as a result of the sale of that lender's participation to another lender. The work included supplementing the facility to reflect the change in the shareholding structure of the borrower and its joint venture structure and entailed major restructuring of the facility and the granting of new security.
Advising a Japanese international bank acing through its Brussels branch on the refinancing of four car carrier vessels for four single purpose shipping companies owned by a major car carrier shipping group.
Advising a Dutch bank in relation to a US$176 million Senior Secured Amortizing Credit Facility to Isle of Man incorporated companies and secured over four Bahamian flag vessels, including mortgage security and corporate guarantees.
More: Ship and offshore finance