12 08 2014

Natixis refinances two ANEK passenger ferries by way of sale and charter back

Watson, Farley & Williams has advised Natixis on the €32.5 million aggregate refinancing of two Greek flag passenger ferries by ANEK Lines S.A. by way of sale and charter back.


The two vessels were purchased by Greek maritime companies ("GMCs").  Natixis provided the financing to each GMC to fund the purchase and, once purchased, each ship was chartered back to ANEK.   Natixis has a strong sectoral expertise in the aircraft asset domain and for transportation. In Asia the Bank is scaling back shipping and telecommunications financing. Together with Commerzbank,  Natixis has been a traditional lender to Greek shipping. WFW advised Natixis on every step of the transaction, from the vessel sale and financing arrangements through to the chartering documentation. The multi-jurisdictional transaction required close cooperation between the WFW London, Paris and Athens offices in order to coordinate the incorporation and establishment of the GMCs in Athens and the legal and practical arrangements surrounding the sale, financing and chartering of these vessels.   Natixis is the international corporate, investment management and financial services arm of Groupe BPCE, the second largest banking group in France. The WFW London team was led by WFW Chairman Frank Dunne, supported by senior associates Lucy Shtenko in London, Alexia Russell in Paris and attorneys-at-law Marisetta Marcopoulou, Matina Kanellopoulou and Valina Giouzelaki in Athens. Involved fees earner: Frank Dunne - Watson Farley & Williams; Lucy Shtenko - Watson Farley & Williams; Alexia Russell - Watson Farley & Williams; Marisetta Marcopoulou - Watson Farley & Williams; Matina Kanellopoulou - Watson Farley & Williams; Valina Giouzelaki - Watson Farley & Williams;

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