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WFW advises NIBC on sale of its originally €1.5bn offshore energy portfolio13 July 2022

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Watson Farley & Williams (“WFW”) has advised NIBC Bank (“NIBC”) on the sale of its offshore energy portfolio to an undisclosed buyer. The entire portfolio was originally valued at €1.5bn and comprises assets across Europe and the US.

With this agreement, NIBC is taking a step towards achieving its net zero ambition as outlined in their company Climate Action Plan. NIBC is focussing its activities and portfolios to match an overall business strategy which integrates a balanced ESG approach.

NIBC is a Netherlands-based enterprising bank serving around 450 mid-market businesses and over 450,000 retail clients. Their corporate offering focusses on mid-market corporates across different sectors particularly infrastructure, commercial real estate and shipping.

The core WFW London team that advised NIBC was led by Assets and Structured Finance Partner Lucy Shtenko, assisted by Capital Markets Partner Rob McBride and Corporate Partner Christina Howard. Assets and Structured Finance Of Counsel Georg Junginger assisted as well as Associate Sabrina Chong and Trainee Chris Madoc-Jones

Lucy commented: “We are delighted to have advised NIBC on the sale of the final part of their offshore energy portfolio which plays a critical role in their ongoing efforts to be a responsible bank geared towards the future. This deal highlights the unrivalled capabilities of our London team in handling high value, complex and strategically important ESG-focussed transactions. It also shows our pre-eminence in the loan portfolio transfer market and it was a real pleasure to work with the NIBC team on this important project for the bank”.

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