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WFW advises ABN on US$220m loan facility

Watson Farley & Williams (“WFW”) has advised ABN AMRO Capital USA LLC (“ABN”) in relation to a US$220m loan facility for Team Tankers. The loan facility refinanced certain existing indebtedness and assisted Team Tankers in financing the acquisition of Laurin Shipping AB and Anglo-Atlantic Steamship Company Ltd, and increases Team Tanker’s overall fleet from 37 to 52 vessels. The facility is secured by mortgages over 34 vessels registered on Bermuda, Maltese and Liberian flag. Mandated lead arrangers are ABN, Danish Ship Finance A/S, NIBC Bank N.V., and Skandinaviska Enskilda Banken AB (publ). A multi-jurisdictional WFW team was led by London Maritime Partner Michael O’Donnell, assisted by Associates Nigel Willis, Charlotte Knight and Tanpreet Rooprai. New York Finance Partner Daniel Rodgers dealt with the Liberian and New York aspects of the deal, assisted by Associate Brett Rieders. Michael commented: “We are very pleased to have acted for ABN on this headline loan facility for Team Tankers which raises its presence in the medium range sector and is further evidence of consolidation in the chemical tanker industry”. Mohammed added: “Real estate is one of WFW’s core industry specialisations and a key sector for major businesses operating in the Middle East region. The combination of a real estate practice together with the firm’s existing capabilities will significantly enhance the service we can offer to our clients particularly within the real estate finance space. I very much looking forward to working with my colleagues in Dubai and across WFW’s global network in supporting our clients both locally and internationally”. Source: Watson, Farley & Williams

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