NEWS

Container Ship at Sea

WFW advises ING Bank N.V., DVB Bank S.E. and Bremer Landesbank Kreditanstalt Oldenburg – Girozentrale – on a $150 million container box financing

28 December 2011

EN | DE

Watson, Farley & Williams, a leading international law firm, is pleased to announce that it has advised ING Bank N.V. (“ING”) as agent and DVB Bank S.E. (“DVB”) as security agent on a $150 million container box financing transaction with ING, DVB and Bremer Landesbank Kreditanstalt Oldenburg – Girozentrale – (“Bremer Landesbank”) as lenders and Hapag-Lloyd AG (“Hapag-Lloyd”) as borrower.

The container boxes financed by the transaction were a mix of standard cargo containers and reefer containers of various sizes, all used in Hapag-Lloyd’s worldwide trade. The WFW team advised the banks on the transaction structure and negotiated and documented the financing facility and security package with Hapag-Lloyd, on the banks’ behalf.

The Watson, Farley & Williams team was led by Hamburg partner Dr. Clemens Hillmer, with assistance from lawyers Marie Meling and Alexander von Grofe (both Asset Finance, Hamburg) and Dr. Ahmad Khonsari (Corporate, Hamburg) as well as partner Frances Steel and solicitor Kavita Shah from the Asset Finance group in the London Office.

Dr. Clemens Hillmer, Partner, Asset Finance Group in the firm’s Hamburg office comments: “We are extremely pleased to have been involved in a project of this significance and to support ING, DVB and Bremer Landesbank in their container box finance activities. The deal allowed us to demonstrate Watson, Farley & Williams’ significant sector expertise across integrated legal disciplines.”