NEWS

Ship's Bow

WFW advises Nordea Bank Norge ASA on $300 million loan facility extension for Euronav

1 July 2013

Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has acted for Nordea Bank Norge ASA (“Nordea”) as lead arranger on the extension of an original loan facility of, originally, US$300 million to Euronav NV, one of the world’s leading independent tanker companies.

Nordea was also bookrunner and sole facility agent on the deal, which closed 24 June, and saw the outstanding loan of US$ 221 million extended for 4 years. The security included mortgages over two VLCCs and four Suezmaxes registered under the Belgian, French and Greek flags.

Some of the banks participating in the original facility before the extension were replaced by existing or new lenders:

Lead arrangers: Nordea, Crédit Agricole CIB and Scotiabank (Hong Kong) Limited

Bookrunners: Nordea and Crédit Agricole CIB

Co-arrangers: Skandinaviska Enskilda Banken, BNP Paribas SA, Belfius Bank, DNB Bank ASA and Optima Bank

WFW London partners Michael O’Donnell and associate Nigel Willis acted for NBN with WFW Paris providing French law assistance.