rss icon Subscribe
desktop mobile

WFW Advises ING Bank on USD 220mln Nine Vessel Financing

Photo: Consolidated Marine Management, a company of Latsco Shipping Ltd

Shailaja A. Lakshmi

Watson Farley & Williams (WFW) has advised ING Bank, London Branch (ING) in connection with a US$87m increase to a US$131m loan facility originally granted to Latsco Shipping Ltd (Latsco) to finance the construction of five new high-spec MR product tankers.

The increase has been used to up the number of modern tankers being financed to nine, the last of which was financed in May 2018.

This now takes Latsco to a fleet of 27 vessels, a significant increase over the past three years since it agreed the original loan facility with ING in 2015. WFW also advised ING on the original loan facility.

The WFW London Maritime team advising ING was led by Partner and firm Chairman Nigel Thomas and by Partner George Macheras, working closely with Senior Associate Emeline Yew on the original loan facility and Associate Natalia Golovataya on the second facility and the deliveries.

Nigel commented: "We are once again delighted to have worked with ING, a longstanding client, on this new financing to Latsco, one of the highest quality operators in the product tanker sector".

George added: "We welcomed the opportunity to advise on this high profile transaction, which was the first collaboration between ING and Latsco, two significant players in their respective areas within the maritime sector".

Aug 7, 2018

 

People & Company News

Svitzer Names Kasper Friis Nilaus CEO


Kasper Friis Nilaus, CEO, Svitzer A/S (Photo: Svitzer)

Towage operator Svitzer announced its Board of Directors has appointed Kasper Friis Nilaus

Paddy Rodgers Joins V.Group Board

Paddy Rodgers (Photo: V.Group)

Ship management and services company V.Group announced that Paddy Rodgers has been appointed as a

Pacific International Lines Secures Debt Deal

© Alexander Gorter / MarineTraffic.com

Singapore-based container ship operator Pacific International Lines Pte (PIL) has agreed with most

Contracts

EPS Orders Gas Carrier Trio from Hyundai Mipo Dockyard

© ilkercelik / Adobe Stock

South Korean shipbuilder Hyundai Mipo Dockyard has secured an order for three medium sized gas

Detyens Wins $24 Mln Ship Repair Contract

File photo: Fleet replenishment oiler USNS Patuxent (T-AO 201) (U.S. Army photo by Jacob Gleich)

Charleston, S.C. repair yard Detyens Shipyards has been awarded a $24,235,291 firm-fixed-price

Hyundai Heavy Bags Double VLCC Order

Illustration - Credit: HHI

South Korea's shipbuilding giant Hyundai Heavy Industries has secured an order to build two very

Maritime Apps