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30 Mar 2022

Stephenson Harwood advises Nordea Bank on US$415 million loan financing


Law firm Stephenson Harwood LLP has advised Nordea Bank in connection with a US$415 million sustainability linked loan agreement, made available to the Stolt Tankers group.

The agreement provides for a term loan facility and a revolving credit facility, secured against a fleet of 19 vessels across two flag states. Two existing facilities held by the borrower group were refinanced as part of the transaction.

The loan agreement contained a number of bespoke green finance provisions including 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, and health and safety performance indicators.

Nordea Bank Abp, filial i Norge was agent for a lending syndicate of 14 banks.

The Stephenson Harwood team comprised Neil Noble and senior associate Shaun Park, who were assisted by associate Joanna Tuft and paralegal Dharshini Raviendran.



Shaun Park

Shaun Park

T:  +44 20 7809 2541 M:  Email Shaun | Vcard Office:  London

Neil Noble

Neil Noble

T:  +44 20 7809 2670 M:  Email Neil | Vcard Office:  London



Rose Charteris
Senior communications and PR executive

T: +44 20 7809 2961 
Email Rose