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WFW advises Crédit Agricole on Fratelli Neri financing2 April 2020

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Watson Farley & Williams (“WFW”) advised Crédit Agricole Italia S.p.A. on a loan facility to Fratelli Neri S.p.A., to finance the construction of the “ROMITO” tugboat built at Damen Shipyards in the Netherlands.

The financing has been fully disbursed to cover the payments agreed with the Dutch yard.

Crédit Agricole Italia S.p.A., a subsidiary of international French banking group Crédit Agricole, is active across eleven Italian regions through its commercial banking arm.

Fratelli Neri, which is part of the Neri Group and provides harbour towage and related maritime services, has been owned and operated by Livorno’s Neri family since the 18th Century. The new unit will join its fleet of 40+ vessels, including harbour, LNG terminal, oil terminal tugs, salvage, coastal and deep-sea towage tugs.

The WFW Italy Maritime team advising Crédit Agricole Italia S.p.A. was led by Partner Furio Samela, working closely with Senior Associate Michele Autuori, and assisted by Associates Antonella Barbarito and Beatrice D’Amato.

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