WFW advises Citibank and HSBC on first of their kind ECA-backed JOLCOs for Seaspan7 January 2022
These pioneering transactions were developed simultaneously and are firsts of their kind, combining two tried and tested ship financing structures.
These pioneering transactions were developed simultaneously and are firsts of their kind, combining two tried and tested ship financing structures.
Watson Farley & Williams has advised Maas Capital Shipping B.V. in relation to the due diligence, deal structuring and legal documentation required to acquire a minority stake in BW LPG India, a subsidiary of BW LPG Limited.
Watson Farley & Williams has advised Hamburg Commercial Bank on a new US$180m bank facility provided to an intermediate holding company of MPC Container Ships ASA.
The syndicated financing is linked to certain pre-determined key performance indicators on sustainability.
Their appointments form part of a new leadership and governance structure for WFW endorsed by the firm’s partnership, replacing the previous model led by joint Managing Partners and a Chairman.
The transaction included a margin adjustment mechanism based on carbon intensity rating as an incentive for the owner to reduce carriers’ carbon emissions.
This is the first occasion when 100% of the equity in a container box ABS has been sold to third-party investors and only the second time that any equity in a container box ABS has been sold to third party investors.
Watson Farley & Williams is pleased to announce that Global Maritime Sector Co-Head Lindsey Keeble has been named one of Lloyd’s List’s Top 10 Maritime Lawyers for 2021, a highly prestigious accolade. This is the second time that Lindsey has been named in the top ten list following her inclusion in 2019.
Watson Farley & Williams acted as English law counsel to CPLP Shipping Holdings PLC on the issuance and public offering of a US$150m corporate bond on the Athens Stock Exchange, guaranteed by Capital Product Partners L.P.
In the second article of this series, Partner Mike Phillips and Associate Sylvie Allen discuss the courts’ powers under the Arbitration Act 1996 to preserve evidence, property and assets and order the attendance of witnesses in LMAA arbitrations.
The ship, which was acquired by Megaride in 2021 as part of a restructuring agreement with Perseveranza S.p.A. di Navigazione group, was sold at her market price, enabling DeA to exit the dry-bulk sector.
WFW advised on matters of English, French, German, Marshall Islands and Hong Kong law, with five offices involved in the transaction.