Ship's Bow

WFW advises DVB on legal aspects of $90m loan to Chilean shipping line CSAV

22 June 2012

Watson, Farley & Williams (WFW), a leading international law firm, is pleased to announce that it has advised Frankfurt-based bank DVB on a $90m loan to Chilean shipping line CSAV.

The loan will finance the delivery instalments for two 8,004 teu widebeam vessels, and has a maturity of 12 years. The vessels on order are the last two remaining in CSAV’s order from Samsung Heavy Industries and will be chartered to Maersk for one year before going into CSAV’s service.

The deal involved K-sure support, and was turned around in less than a month.

The deal was led by Andrew Baird, Partner in the London office, assisted by Kavita Shah and Helen Winward, both senior associates in the London office. Linklaters advised CSAV.

WFW shipping and asset finance partner Andrew Baird who led on the deal said: “This was a crucial and complex deal for us and the client, especially given the tight turnaround times. But it also demonstrates WFW’s ability to marshal a cross-border team to meet client expectations in a challenging environment.“