Ship's Bow

WFW advises Natixis on the refinancing of two ANEK passenger ferries by way of sale and charter back

11 August 2014

Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised Natixis on the €32.5 million aggregate refinancing of two Greek flag passenger ferries by ANEK Lines S.A. (“ANEK”) by way of sale and charter back.

The two vessels were purchased by Greek maritime companies (“GMCs”). Natixis provided the financing to each GMC to fund the purchase and, once purchased, each ship was chartered back to ANEK. WFW advised Natixis on every step of the transaction, from the vessel sale and financing arrangements through to the chartering documentation.

The multi-jurisdictional transaction required close cooperation between the WFW London, Paris and Athens offices in order to coordinate the incorporation and establishment of the GMCs in Athens and the legal and practical arrangements surrounding the sale, financing and chartering of these vessels.

Natixis is the international corporate, investment management and financial services arm of Groupe BPCE, the second largest banking group in France.

The WFW London team was led by WFW Chairman Frank Dunne, supported by senior associates Lucy Shtenko in London, Alexia Russell in Paris and attorneys-at-law Marisetta Marcopoulou, Matina Kanellopoulou and Valina Giouzelaki in Athens.

WFW London partner Frank Dunne, said: “We are pleased to have advised Natixis on this significant multijurisdictional refinancing for ANEK. Our experienced team in London, Paris and Athens enabled us to advise on every aspect of the deal. Its successful conclusion will provide both Natixis and ANEK with a firm platform from which they can take their relationship forward.”