11 January 2013
Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has acted for Nordea Bank Norge ASA on a US$300m reducing revolving credit facility to CMB NV, which signed in December 2012.
The proceeds will be used to refinance existing debt, to part-finance six Samjin newbuildings due for delivery in 2013/4, and for general corporate purposes. It is secured on various Belgian and Hong Kong registered ships.
DNB Bank ASA and Norge Bank Norge ASA acted as bookrunners. DNB Bank ASA, Nordea Bank Norge ASA, Belfius Bank NV/SA, Fortis Bank SA/NV, KfW IPEX-Bank GmbH and Skandinaviska Enskilda Banken AB (Publ) acted as lead arrangers and ABN Amro Bank N.V., KBC Bank NV and Scotiabank Europe Plc as co-arrangers.
WFW London partner Michael O’Donnell led on the deal, while WFW Hong Kong advised on Hong Kong law, and Fransen Luyten on Belgian legal aspects.