Patrick Smith

Patrick Smith
Senior Associate

LONDON

T: +44 20 7814 8000
D: +44 20 7814 8011
M: +44 7738 329 556

Summary Open

Patrick Smith is a senior associate in the Asset Finance Group.

He specialises in shipping finance, predominantly working on debt finance transactions for owners, international banks and private equity funds. He regularly acts on restructuring transactions and the maritime and due diligence aspects of mergers, fleet acquisitions and loan portfolio sales.

Patrick qualified in January 2006 and joined Watson Farley & Williams as an associate in June 2007. He has spent several months working in the firm’s office in Greece and has also worked for several months in Russia.

Experience Open

    • Advising Teekay Tankers (TNK) on the US$0.9 billion financing arranged by Nordea, Citibank and ABN for the refinancing of TNK’s spot tanker fleet, which included refinancing of the original US$845m financing on which he also advised when TNK was established.
    • Acting for General Maritime Corporation on its US$1.4 billion merger with Navig8 Crude Tankers to create one the world’s largest owners of very large crude carriers (VLCCs) with a combined fleet of 28 VLCCs.
    • Advising Teekay on the US$815m ECA-backed financing for the construction of the FPSO Petrojarl Knarr.
    • Acting for HSH Nordbank AG (HSH) on innovative venture with the Navios Group to transfer 10 distressed vessels with a market value of US$218m out of HSH’s non-core portfolio.
    • Advising Teekay LNG Partners LP and Marubeni Corporation on their successful joint venture bid for and the purchase of a fleet of 6 LNG carrier vessels from Maersk LNG for a purchase price in excess of US$1.3 billion and the related bridge loan facilities made available by two syndicates of banks, one led by DNB Bank ASA and another by Mizuho Corporate Bank, Ltd. in a total amount of US$1.064 billion.
    • Acting for National Shipping Company of Saudi Arabia in relation to SAR1,233,900,000 and US$120m Tawarruq facilities to finance pre- and post-delivery of six newbuilding roll-on, roll-off vessels being built at Hyundai.
    • Acted for Crédit Agricole CIB on US$200m facility to Petredec with commercial and KSure insured tranches to provide post-delivery financing for four 84,000cbm LPGs.

Education Open

  • 2003: Nottingham Law School – Diploma in Legal Practice
  • 2002: Nottingham Law School – Postgraduate Diploma in Law
  • 2001: Christ Church, Oxford University – MA (Oxon) Modern History and Russian

Author/Speaker/Awards Open

Awards:

Patrick has acted as the lead associate for WFW on the following “Marine Money Deals of the Year”:

  • 2014 ECA Deal of the Year (Offshore) – US$815m for Teekay’s FPSO Petrojarl Knarr, supported by KEXIM, KSure and GIEK
  • 2013 Restructuring Deal of the year – HSH Nordbank AG and Navios financing for 10 distressed vessels
Speaker:
  • 2015 CityLaw LIVE – the Anatomy of an Asset Finance Transaction

Membership of Professional Societies Open

  • Law Society of England & Wales

Employment Record Open

  • 2007 – present: Watson Farley & Williams LLP – Senior Associate
  • 2004 – 2007: Norton Rose Fulbright LLP – Trainee and Associate

News Open