The loan facility refinanced certain existing debt and assisted Team Tankers in financing the acquisition of Laurin Shipping and Anglo-Atlantic Steamship Co.
This facility is secured by mortgages on 34 vessels under the Bermudian, Maltese and Liberian registries.
Mandated lead arrangers were ABN, Danish Ship Finance, NIBC Bank, and Skandinaviska Enskilda Banken.
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.
O’Donnell 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.”