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12 February 2019

WFW advises Technip on £70.5m “Deep Discoverer” financing

Watson Farley & Williams (“WFW”) has advised Technip UK Limited (“Technip”) on a £70.5m financing agreement arranged by Crédit Industriel et Commercial (“CIC”) and BNP Paribas of the newbuild diving support vessel m.v. “Deep Discoverer”, built by the Vard Group AS in Norway.

The vessel was acquired by a CIC-owned company. The financing comprised a French lease (charter by way of crédit-bail) of the vessel from the CIC-owned company and leased to Technip UK Limited.

The WFW Paris team was led by Finance Partners Alexia Russell and Laurence Martinez-Bellet, supported by Associates Natasha Seel and Konstantina Kyprianidou on the English law aspects and Senior Associate Christophe Garcia and Associate Sophie Morin on the French law aspects.

French tax advice was provided by Partner Romain Girtanner, assisted by Associates Anis Mezni and Nicolas Bourdon and English tax advice was provided by Partner Richard Stephens in London.

The lenders, CIC and BNP Paribas, were advised by a team of Norton Rose Fulbright led by Partner Christine Ezcutari, assisted by Of Counsel Alexandre Roth and Associates Alexis Babin de Lignac, Ayaka Millet and Constance Ollat for both English law and French law advice.

 

About Watson Farley & Williams:

Watson Farley & Williams is an international law firm with offices in Athens, Bangkok, Dubai, Frankfurt, Hamburg, Hong Kong, London, Madrid, Milan, Munich, New York, Paris, Rome and Singapore. The firm currently has 500+ lawyers and over 900 staff. Watson Farley & Williams is a leading international law firm providing services of high quality and value to clients throughout a range of industry sectors, with particular focus on: Energy & Infrastructure, Maritime, Natural Resources, Real Estate and Transport. Lawyers from our international offices work as integrated teams to provide practical, commercially focused legal services. Our locations allow us sufficient geographical spread to be competitive in the global market and to provide consistently high quality legal services to our clients. w: www.wfw.com

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