Michael O'Donnell
Partner

FINANCE

LONDON

T: +44 20 7814 8000
D: +44 20 7814 8062
M: +44 7843 501622

EmailE: modonnell@wfw.com

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Michael O'Donnell

Summary Open

Michael O’Donnell joined Watson Farley & Williams in April 1988. He has worked in the Asset Finance Group in London since joining with one year (1993) in our Oslo office. He specialises in international financial work with a particular emphasis on shipping. His experience includes advising on ship financing and tax-based leasing and export credit financing transactions across a variety of maritime assets and also acting for banks on a number of restructurings. Michael has advised financial institutions, ship owners and leasing companies.

Experience Open

    • Acting for various financial institutions on loan facilities to certain Belgian owners, including Euronav, CMB, Bocimar and Exmar.  Recent facilities include acting for Nordea on a US$500m facility to Euronav to finance its acquisition of 15 VLCCs from Maersk, acting for ING on a US$340m loan facility to Euronav to finance its acquisition of 4 newbuilding VLCCs from Maersk and to refinance certain other VLCCs and acting for Nordea on US$355m syndicated loan facility to Exmar LPG BVBA financing 15 LPGs and a subsequent upsizing of the loan facility to US$460m to finance further newbuilding acquisitions.
    • Acting for Crédit Agricole Corporate and Investment Bank on various loan facilities, including recent $200 KSure backed loan facility for Pretredec to finance its acquisition of 4 VLCCs, a US$92,900,000 loan facility for Grindrod to finance a number of newbuilding acquisitions and Ioan facilities to Transportation Recovery Fund to finance a number of newbuilding acquisitions.
    • Acting for various lenders on loan facilities for Ardmore Shipping to finance Ardmore acquisitions since establishment of Ardmore.
    • Acting for lenders in connection with a restructuring under article 67 of the Italian bankruptcy law of loan facilities made available to an Italian owner.
    • Acting for HSH Nordbank AG advising lenders and swap banks on the restructuring of loan facilities to Allocean totalling approximately $800m and the transfer of fleet of 33 ships following administration of Allco Finance Group and acting on loan facilities to the new owners of the fleet.
    • Acting for ING Bank N.V. on a US$500m facility provided by various banks to joint venture companies owned by Euronav and OSG to finance the acquisition, conversion and operation of two floating storage offloading vessels operated by Maersk Oil Qatar on the Al Shaheen offshore field.  Various ongoing assistance on this facility resulting from OSG Chapter 11 and subsequent restructuring.

Education Open

  • 1984-1985: College of Law, Guildford, Legal Practice Course
  • 1981-1984: University of Wales, Aberystwyth, LLB (Hons) 2:1

Membership of Professional Societies Open

  • Law Society of England & Wales

Employment Record Open

  • 2005-present: Watson Farley & Williams ,Partner
  • 1988-2005: Watson Farley & Williams, Associate
  • 1985-1988: McHale & Co., Trainee and Associate

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