WFW advises Altera on successful Chapter 11 restructuring12 January 2023
The restructuring addressed more than US$1bn of secured and unsecured holding company debt.
The restructuring addressed more than US$1bn of secured and unsecured holding company debt.
Valiant Lady is the second of four cruise ships ordered by Virgin and is expected to be based in the Mediterranean by 2022.
Oak Hill has acquired over 110,000 containers from Aves One. The portfolio is valued at c. US$182.5m and the structure involved both asset and debt elements between the parties.
The credit facility will be used to refinance 31 vessels as well as repay circa US$455m of Teekay Tankers’ existing debt and extend balloon maturities from 2020/2021 until the end of 2024.
A six-year loan facility will primarily be used towards the prepayment of existing credit payments, amounting to US$152m, as well as to pay off a US$66m bridge facility raised in June 2019.
We advised on the New York, Marshall Islands and English law aspects of the transactions, including relating to certain collateral security granted on the notes.
Plans are underway for a marine laboratory to be situated on Ocean Cay that will research climate change-resistant coral in hopes of providing insights to similar island habitats.
The facility is secured by mortgages over 34 vessels registered on Bermuda, Maltese and Liberian flag.
The “MSC SEASIDE” is due to enter service in December 2017, and will operate year-round to the Caribbean, from a renovated and expanded dedicated berth and terminal at the Port of Miami, Florida, USA.
We are delighted once again to assist Teekay Offshore on a series of highly strategic investments and refinancings that have so significantly enhanced the position of Teekay Offshore going forward.