Watson Farley & Williams (“WFW”) advised a syndicate of lenders led by BNP Paribas (“BNPP”), SACE SpA and SIMEST SpA on the financing and delivery of the cruise vessel Norwegian Aqua, owned by Norwegian Cruise Line Holdings Ltd. group (“NCLH”) and built at Fincantieri’s Marghera shipyard in Italy.
Norwegian Aqua is the third of NCLH’s Prima-class vessels and, at approximately 156,000 gt, is the largest vessel to be built at the Marghera shipyard. It can accommodate approximately 3,550 passengers and offers travellers a 10% increase in size and capacity to its guests compared to its sister vessels. Norwegian Aqua’s design reflects Norwegian Cruise Line’s commitment to sustainability and innovation for a responsible cruise experience. First, it is designed to be spacious, offering up to 36% more space per guest than comparable cruise lines. It also stands out as one of the most visually striking ships ever constructed with the design of the hull artwork signed from artist Allison Hueman. As part of its numerous advanced technological features, Norwegian Aqua debuts the Aqua Slidecoaster, the world’s first hybrid roller coaster and water slide at sea using a magnetic lift system to launch guests through twists and turns. Its Glow Court is a first-of-its-kind interactive space that transforms a high-tech LED sport arena by day into a nightclub.
NCLH is a leading global cruise company which operates Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises. With a combined fleet of 33 ships and approximately 70,000 berths, they offer itineraries to approximately 700 destinations worldwide. The NCLH group expects to add 12 additional ships across its three brands through 2036, which will add approximately 37,000 berths to its fleet.
The cross-border WFW Finance team that advised the lenders was led by Paris Partner Alexia Russell, supported by London Associate Parit Patani, Paris Associate Panagiotis Pantos and Trainee Solicitor Emma Devenish. Italian law advice was provided by Milan Partner Mario D’Ovidio and Associate Giulia Chiarvesio.
Alexia commented: “We are delighted to have assisted BNPP and the lenders on another successful delivery for NCLH, having most recently advised the syndicate of lenders on the deliveries of Seven Seas Grandeur and Vista in 2023. We wish both the vessel and NCLH all the best as it enters into service”.
