The facility was arranged by HSH and ING BanK, London Branch, each acting as mandated lead arrangers and bookrunners. BNP Paribas and National Bank of Greece also acted as arrangers.
The facility was used to partially refinance four credit facilities and is secured on 35 vessels owned by subsidiaries of CPLP, comprising almost the entire fleet. The facility has a six-year maturity.
Jerry Kalogiratos, CPLP CEO, commented: “We strongly believe that this transaction will further strengthen our balance sheet and will be an important cornerstone, as we turn our attention to growth.”
The WFW Athens maritime team was led by Athens Partner, George Paleokrassas, supported by senior associate, Christina Economides, associates, Konstantinos Mexias, Nadine Akleh and Paralegal Katerina Dimitriou.
Paleokrassas commented: “HSH is an important financier in the global maritime industry and a long-standing client of WFW, as are ING, BNP and NBG, so we are very pleased to have advised them on this transaction which will allow CPLP to continue its growth.
“We are particularly pleased to have been entrusted by the syndicate banks to advise them on such a key and high profile transaction as this also continues our involvement in acting for the lenders to CPLP, a role we have been playing since 2005,” he concluded.