Ship's Bow

WFW advises five-bank syndicate on a US$48m loan facility to United Arab Chemical Carriers Limited

11 December 2012

Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised a syndicate of five banks on a loan facility to United Arab Chemical Carriers Limited (UACC) of up to US$48,000,000.

The mandated lead arrangers, bookrunners and lenders of the loan facility are ABN Amro Bank N.V., Citibank, N.A., Deutsche Bank AG Filiale Deutschlandgeschaeft, ITF International Transport Finance Suisse AG and Nordea Bank Norge ASA. Nordea Bank Norge ASA is also acting as the agent and security trustee.

The loan will refinance part of the acquisition price of m.v. “UACC Masafi” and m.v. “UACC Messila”. Both vessels are the first two genuine chemical tankers to join UACC’s fleet, and both were built at ShinaSB Yard in South Korea.

The deal was led by London partner Nigel Thomas, assisted by Kavita Shah and Gladys Sexl, also based in WFW London.