Norton Rose Fulbright advises on US$1bn Sea Bridge Finance joint venture

Company Profiles, Legal, News, Ship Finance, Shipfinance — By on December 16, 2014 at 11:10 AM
Simon Hartley

Simon Hartley

Norton Rose Fulbright advises on US$1bn Sea Bridge Finance joint venture

Advising Credit Agricole on a joint venture to invest up to US$1bn in ship mortgage loans

Global legal practice Norton Rose Fulbright has advised Crédit Agricole Corporate and Investment Bank (CA-CIB) on the establishment of Sea Bridge Finance, a joint venture with Sumitomo Mitsui Trust Bank (SMTB).

Sea Bridge Finance is a 50-50 joint venture between CA-CIB and SMTB and has been formed to invest up to US$1 billion in senior secured ship mortgage loans over the next three years. Norton Rose Fulbright will continue to represent Sea Bridge Finance in relation to its future investment activities.

Simon Hartley, partner and co-head of shipping, commented:

“This reflects an exciting new development in the shipping finance market and demonstrates how participants in that market are capable of developing innovative and flexible structures to provide solutions to the capital needs of the industry.”

Corporate partner Jill Gauntlett, ship finance partner Simon Hartley and tax partner Matthew Hodkin led the team advising CA-CIB, supported by associates Charles Bremner and Juliet Huang. Paris banking and finance partner Martin Gdanski and Paris tax partner Laurence Toxé also advised, together with London senior associate Caroline Thomas and associate Shaha El-Sheemy who provided anti-trust and competition and regulatory advice.

The transaction completed on December 5 2014. Allen & Overy LLP advised SMTB. Dougherty Quinn provided Isle of Man legal advice

Norton Rose Fulbright was recently named Shipping Law Firm of the Year by Global Transport Finance. This joint venture is one of a number of transactions Norton Rose Fulbright has advised on aimed at making additional capital available to the shipping sector, including advising Alpha Bank on the securitisation of a portfolio of shipping loans to raise in excess of US$500 million, and acting for Costamare on a joint venture with York Capital Management Advisors LLC to invest US$500 million in equity for the acquisition of container vessels.

Norton Rose Fulbright is a global legal practice. We provide the world’s pre-eminent corporations and financial institutions with a full business law service. We have more than 3800 lawyers based in over 50 cities across Europe, the United States, Canada, Latin America, Asia, Australia, Africa, the Middle East and Central Asia.

Recognized for our industry focus, we are strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare. 

Wherever we are, we operate in accordance with our global business principles of quality, unity and integrity. We aim to provide the highest possible standard of legal service in each of our offices and to maintain that level of quality at every point of contact.

Norton Rose Fulbright LLP, Norton Rose Fulbright Australia, Norton Rose Fulbright Canada LLP, Norton Rose Fulbright South Africa (incorporated as Deneys Reitz Inc) and Fulbright & Jaworski LLP, each of which is a separate legal entity, are members (‘the Norton Rose Fulbright members’) of Norton Rose Fulbright Verein, a Swiss Verein. Norton Rose Fulbright Verein helps coordinate the activities of the Norton Rose Fulbright members but does not itself provide legal services to clients.

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