WFW advises Danaos on US$450m newbuild vessel financing19 April 2024
We advised Danaos Corporation on a US$450m post-delivery senior secured term loan facility to finance eight newbuild vessels under construction.
We advised Danaos Corporation on a US$450m post-delivery senior secured term loan facility to finance eight newbuild vessels under construction.
The total cost of the investment was €21M and was funded by Attica Group’s equity and the bond loan facility.
The new promotions bring the total number of partners to 173.
WFW acted for Hamburg Commercial Bank AG as mandated lead arranger, agent and security trustee, together with Alpha Bank S.A. as lenders in connection with a secured term loan facility of up to US$195m.
Danaos has refinanced all its outstanding debt under nine senior secured credit facilities, streamlining its capital structure from nine credit facilities to one.
We advised Danaos Corporation on the comprehensive restructuring and refinancing of its US$2.2bn debt maturing 31 December 2018 with certain of its lenders including Citibank, Credit Suisse, HSH Nordbank and RBS.
The facility is secured on 14 of First Ship Lease Trust’s vessels flagged in either the Bahamas or Singapore.
The facility was used to partially refinance four credit facilities and is secured on 35 vessels owned by subsidiaries of CPLP, comprising almost the entirety of its fleet.