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27 Jan 2022

Stephenson Harwood advises DNB Bank on US$154 million deal


Law firm Stephenson Harwood LLP has advised DNB Bank ASA (“DNB”) in connection with a US$154 million secured term loan advanced to a joint venture vehicle established by Kristian Gerhard Jebsen Skibsrederi AS and Hayfin Capital Management.

The finance documentation, secured against a fleet of ten vessels, contained a margin ratchet linked to sustainability key performance indicators as determined by the Poseidon Principles – the self-governing climate alignment agreement among financial institutions active in the ship finance sector.

Stephenson Harwood advised DNB Bank in its capacity as agent for a lending syndicate of five banks. The facility was arranged by DNB and Nordea Abp, filial i Norge as joint bookrunners.

The Stephenson Harwood team was led by global head of ship and offshore finance Ian Mace, who was supported by associate Michael Burgess.



Ian Mace

Ian Mace
Partner and global head of maritime trade and offshore finance

T:  +44 20 7809 2653 M:  +44 7827 353 109 Email Ian | Vcard Office:  London


Rose Charteris
Senior communications and PR executive

T: +44 20 7809 2961 
Email Rose