18 March 2016
International law firm Watson Farley and Williams LLP (“WFW”) in London acted for Crédit Agricole Corporate and Investment Bank (“Crédit Agricole”) in relation to a US$250m loan facility for d’Amico International Shipping. The loan facility was signed on 14 March 2016. Mandated Lead Arrangers are Crédit Agricole Corporate and Investment Bank, Nordea Bank AB, London Branch, ING Bank N.V., London Branch and Banca IMI S.P.A. and Arrangers are Commbank Europe Limited, Skandinaviska Enskilda Banken AB (PUBL), The Governor and Company of the Bank of Ireland, Credit Industriel et Commercial and DNB (UK) Limited.
The loan facility refinances seven existing ships built between 2004 and 2006 extending the debt from 2017 to 2021 and will, in addition, provide financing for six newbuilding product tankers from Hyundai Vinashin.
London Maritime Partner, Michael O’Donnell led the WFW team acting for Crédit Agricole on the loan facility, assisted by associates Delphine Joly and Natalia Golovataya and WFW New York and WFW Paris provided Liberian and French law assistance and Campbell Johnson Clark and Linklaters provided the Irish and Luxembourg law assistance.
Michael O’Donnell commented “We were very pleased to act for Crédit Agricole on this loan facility to enable d’Amico to complete the financing of its US$755m newbuilding programme”.