Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised Seaspan Corporation on a facility agreement between ICBC (Industrial and Commercial Bank of China) of up to US$350,000,000. The secured loan will be used to refinance Seaspan’s existing debt obligations for seven vessels, and will be split into two loan agreements.
Projects, Commodities and Structured Finance partner Mark Lawson, who is also Seaspan’s relationship partner, was assisted by solicitor George Macheras, both of WFW London.
Mark Lawson commented: “We are delighted to have assisted Seaspan in this transaction. Because of our long association with the company we have developed efficient working practices with its legal, finance and commercial teams that enable them to make decisions quickly to achieve a prompt and successful financial close, which is essential when obtaining and documenting large credit facilities in a challenging market.”
