WFW Advises ING Bank on $340m Loan Facility for Euronav
Watson, Farley & Williams (WFW) has advised ING Bank N.V. (ING) as sole bookrunner and facility agent for a syndicate of banks on a $340 million loan facility made available to Euronav NV. The facility is comprised of a $192m term loan facility and a revolving credit facility of up to $148m. Euronav plans to use the funds to refinance four Suezmax tanker vessels, finance the acquisition of four very large crude carrier tankers from Maersk and for general corporate purposes. The ships financed under the facility are registered on Belgian, Greek and French flags.
Royal IHC sells Subsidiary IHC Sealing Solutions
Royal IHC (IHC) has reached an agreement to sell 100% of its shares in its subsidiary IHC Sealing Solutions to new owners Willem Steenge, who as CEO is partly responsible for the strong growth of IHC Sealing Solutions in recent years, and Rabo Participaties (RaPar). The sale enables IHC to strengthen its focus on its core business: offering integrated innovative vessels, advanced equipment and life-cycle support to the dredging, wet mining and offshore construction industries.
Kromhout Appointed Partner by AKD
Netherlands law firm AKD has appointed Jan Kromhout as a partner in its shipping and offshore team.Jan began his career in Rotterdam with the law firm Nauta Dutilh. In 2005 he joined the leading operator in the international market for heavy marine transport, where he became head of the legal department and where he also gained extensive experience of arranging contracts involving the oil and gas industry Jan works closely with shipping companies in drawing up transport contracts, arranging charter parties, co-operation agreements, shipbuilding contracts and vessel financing arrangements.
AKD Prinsen Van Wijmen Expands Transport Law Team
AKD Prinsen Van Wijmen, one of the largest law firms in the Netherlands, is expanding its transport law team. Effective October 15, three partners and three associates are joining AKD from the Rotterdam office of law firm NautaDutilh. Frans de Vries Lentsch. Also making the move are Emily Derogee van Roosmalen, who heads up the Netherlands arbitration platform, Transport and Maritime Arbitration Rotterdam-Amsterdam (TAMARA), Taco van der Valk, researcher, maritime and transport law, and Haco van der Houven van Oordt. They will join AKD's existing transport and insurance division, which currently has two partners, Leo Boersen and Carel van Lynden.
