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WFW advises CIT on US$34.25m refinancing facility to Globus Maritime Limited28 May 2021

Watson Farley & Williams (“WFW”) advised CIT Bank, N.A. (“CIT”) in relation to a US$34.25m term loan facility provided to subsidiaries of Globus Maritime Limited (“Globus”) for the refinancing of its fleet of dry-bulk vessels.

NYSE-listed CIT is a financial institution headquartered in New York City. It provides financing to a wide range of industries, including aerospace and defence, transport, communication, energy, hospitality, healthcare and technology.

Globus is an integrated dry bulk shipping company that provides marine transportation services worldwide and presently owns, operates and manages a fleet of six dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina and other dry bulk cargoes internationally. Globus is listed on the Nasdaq Capital Market.

The WFW Athens Assets & Structured Finance team that advised CIT was led by Partner Vassiliki Georgopoulos, supported by Senior Associate Georgia Asimakopoulos and Associates Eleni Antonakou and Jenny Anastasopoulou.

Vassiliki commented: “Having acted for CIT since 2013, we are delighted to have advised them on this important transaction for Globus which facilitates the strategic restructuring and expansion of their fleet of dry-bulk vessels”.

Athanasios Feidakis, Chief Executive at Globus, said: “We are very happy to have worked with WFW on this deal. Their professionalism and commercial, swift understanding and support has been very important for the closing of this transaction. We thank the team and are delighted to have concluded a deal with them once again.”

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