NEWS

Cruise Ship in Port

WFW advises Royal Caribbean Cruises Ltd on €892 million financing

15 August 2013

Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that its London, Paris and New York offices have advised long-standing WFW client, Royal Caribbean Cruises Ltd. (“RCL”), in connection with RCL’s contracting for the construction and purchase of a third mega-cruise vessel of its Oasis class at STX France S.A. in St Nazaire and, also, in connection with the obtaining of ECA-supported post-delivery financing of such vessel.

The post-delivery financing, in the amount of EURM 892, is arranged by Société Générale, BNP Paribas and HSBC France and will be guaranteed by Compagnie Française d’Assurance pour le Commerce Extérieur (COFACE).

Martin Watson co-ordinated the teams in the 3 WFW offices involved and was ably assisted in London by senior associate, Marzena Legezynska, and by Head of WFW Paris, Laurence Martinez-Bellet, and associate Olivier Challine in Paris and by Partner Leo Chang in New York.

Martin noted: “It is particularly gratifying to assist a close client of the firm, like RCL, in a complex and high-value transaction such as this, one that presented the parties with numerous significant challenges that had to be resolved. The transaction itself is testimony to RCL’s strategic ambitions; and WFW’s involvement is further evidence of the firm’s market-leading position in the provision of legal services to the cruise sector.”