Global law firm - Norton Rose Fulbright has advised Citibank, N.A. (Citibank), as Coordinator, BNP Paribas, KfW, and Alpha Bank on a $450 million syndicated facility for Danaos Corporation (Danaos).
Financial aid
The facility will assist with the financing of eight newly built container vessels built by the Daehan, Dalian, and Qingdao shipyards. These container vessels meet the latest IMO requirements for emissions and energy-efficient design, making them Danaos’ most sustainable vessels to date.
The team advising on the deal was led by Norton Rose Fulbright Co-Head of Asset Finance and Head of Greece - Yianni Cheilas, with the support of Senior Associate - Alexi Remoundos and Associate - Maria-Christina Papoulia.
$450 million facility
Yianni Cheilas commented, “We were delighted to be able to assist our clients – Citibank, BNP Paribas, KfW, and Alpha Bank with this sizeable $450 million facility to help finance eight new container vessels under construction in South Korea and China."
Yianni Cheilas adds, "This significant deal demonstrates the continued appetite of traditional bank lenders for commercial debt across all sectors in the shipping space.”
Norton Rose Fulbright
Norton Rose Fulbright has operated in Greece for over 30 years and has one of the major legal practices in banking and finance, including shipping finance, project finance, and structured finance, as well as corporate, M&A, and securities, financial regulation, energy, and litigation and disputes.
The firm’s clients include Greek and multi-national corporations, particularly in the financial institutions, insurance, shipping, renewable energy, and real estate sectors, as well as governmental organisations and the Hellenic Republic.
The firm's lawyers have worked on some of Greece’s most prominent transactions and have a strong record advising Greek companies raising funds externally, and multinational corporations investing in Greece.
