Norton Rose Fulbright, a world legislation agency, has offered authorized recommendation to the lenders, led by Citi, concerning the financing and subsequent supply of Royal Caribbean‘s latest flagship vessel, “Utopia of the Seas”. The crew at Norton Rose Fulbright provided steerage on all facets of the transaction, which included the preliminary financing preparations and, most not too long ago, the supply of the vessel. This explicit vessel is the newest addition to Royal Caribbean’s fleet and was financed by way of a French ECA-supported receivable buy financing and post-delivery financing, totaling roughly $1.3 billion. With a gross tonnage of 236,000, “Utopia of the Seas” is the sixth ship within the “Oasis Class” cruise line. It measures 1,188 ft in size and may accommodate a most of seven,500 passengers, together with 2,300 crew members. Notably, it’s the first vessel within the “Oasis Class” to make the most of progressive LNG expertise for energy.
The Norton Rose Fulbright London crew was led by International Co-Head of Delivery Simon Hartley and Counsel Matthew Bambury, with assist from Affiliate Rebecca Daniel, and Trainee Solicitor Lucrezia Cavuto. Associate Kirstin Russell and Senior Affiliate Jessica Sorah suggested on associated English legislation facets. International Co-Head of Transport Christine Ezcutari led the crew advising on French legislation issues, supported by Senior Affiliate Ayaka Millet, Affiliate Emilie Jacques and Trainee Sarah Malegarie. Simon Hartley commented:
“We’re delighted to proceed to assist our longstanding shopper, Citi, on this vital and sophisticated financing, involving a number of jurisdictions and incorporating innovating LNG expertise that represents one other step alongside the highway to decarbonising the transport trade. The cruise sector has had a strong begin to the 12 months and we’re anticipating a robust pipeline of deal exercise all through the remainder of 2024 and into 2025.”
Printed by: www.lawyer-monthly.com – June 18th, 2024