Posted on: 18 April 2016
18 April 2016 International law firm Watson Farley & Williams (“WFW”) advised Crédit Agricole Corporate and Investment Bank (“CACIB”), SACE (CDP Group) and a syndicate of banks in relation to an ECA-backed financing of a 754 passenger cruise vessel to be built by the Italian shipyard Fincantieri S.p.A (the “Vessel”) and to be purchased by Explorer II New Build LLC, a wholly-owned subsidiary of NCL Corporation Ltd.
The SACE-backed loan facility of up to circa USD 498 million will be used to fund the construction of the Vessel. The Vessel is expected to be completed in 2020 and will sail as part of the Regent Seven Seas fleet.
The WFW team was led by Paris asset finance partner Alexia Russell, along with senior associate Emily King and associate Ruth van Lare.
Alexia commented: “We are delighted to have advised long-time client CACIB, as well as SACE and the syndicate on this significant transaction for the cruise industry”.