Watson Farley & Williams (“WFW”) is delighted to announce that the Seaspan ECA-backed JOLCOs trasnaction on which the firm advised has won the award for Ship Finance Deal of the Year at the 2022 Seatrade Maritime Awards.
In January 2022, a cross-border WFW Assets and Structured Finance team advised Citibank and HSBC on two separate ECA-backed JOLCOs arranged for Seaspan. These pioneering transactions were the first of their kind, combining two tried and tested ship financing structures: ECA-backed loans and sale-leaseback arrangements under JOLCOs. The deal represents the first time the ECAs involved have supported JOLCO structures in the maritime sector.
This is the latest in a string of high-profile accolades for these ground-breaking financings. Earlier this year, they were named Export Credit Agency Deal of the Year 2022 at Marine Money’s awards, as well as both the Global and the Hong Kong Transport Deal of the Year at The Asset Triple A Awards 2022 and Shipping Export Finance Deal of the Year at the TXF Deal of the Year 2021 Awards. They were also ‘Highly Commended’ for Finance Team of the Year at the Legal Business Awards 2022.
The Seatrade Maritime Awards honour those going above and beyond to drive progress in the maritime space and showcase the very best the industry has to offer. This year’s awards ceremony took place at London’s Guildhall on 8 November.
Partner Gary Walsh commented: “It was a pleasure to accept this award on behalf of the team. I am extremely proud of all the hard work that went into this truly pioneering transaction and the well-deserved recognition it has received”.
Managing Partner Lindsey Keeble added: “I am thrilled that we have received yet another award win for this ground-breaking transaction which I was honoured to lead the team on alongside our dear friend and sorely missed colleague Mehraab Nazir”.
