Law firm Stephenson Harwood LLP has advised ABN AMRO Bank N.V. and Touax Container Asset Financing Limited, in their roles as facility agent and borrower respectively, in relation to a US$85 million revolving and term loan facilities agreement. 

The term loan tranches refinance the borrower’s existing portfolio of containers, while the revolving facility finances new containers which will be acquired by the borrower. The aggregate amount for the initial total commitments by the lenders – a syndicate of three international banks – is US$75 million, and there is an accordion option to increase the revolving facility by an additional US$10 million.

“This facility refinances the existing one, on which we also advised two years ago,” said Neil Noble, partner, Stephenson Harwood. “This was a relatively complex deal, involving entities based in Singapore and France, and drew on our cross-border expertise and the international reach of our shipping and offshore finance specialists.”

The Stephenson Harwood team advising ABN AMRO Bank comprised London-based partner Neil Noble and senior associate Shaun Park, while the team advising Touax Container Asset Financing Limited consisted of Paris-based partner Jeremy Grant and associate Cloe Nguyen.