Norton Rose Fulbright advises on financing for two LNG-powered cruise vessels for MSC Cruises

The firm was instructed by Banco Santander, who acted in numerous capacities, with Caixabank and Banco Santander acting as joint lead arrangers.

The LNG-powered ‘World Class’ vessels, the largest in the MSC Cruises fleet, will be built at the Chantiers de l’Atlantique shipyard in France and will be delivered to MSC Cruises in 2026 and 2027, respectively. Each vessel will be fitted with innovative and technological solutions designed to maximise efficiency and lower its carbon footprint, including LNG propulsion systems and shore power connectivity.

Lawyers from Norton Rose Fulbright’s London, Paris, and Milan offices advised on all aspects of the pre and post-delivery financing to fund the construction and purchase of the two vessels.

The London team was led by Global Co-Head of Shipping, Simon Hartley, and Counsel, Matthew Bambury, with support from Associate, Rebecca Daniels, and Trainee Solicitor, Sarah Harvey. Partner, Kirstin Russell, and Senior Associate, Jessica Sorah, assisted on related English law aspects of the transaction. Global Co-Head of Transport, Christine Ezcutari, led the team advising on French law matters, supported by Senior Associate, Ayaka Millet, and Associates, Lorraine Viard and Emilie Jacques. Partner, Gennaro Mazzuoccolo, led the Italian team and was supported by Associate, Chiara Conti.

Hartley said: “We were delighted to be able to support our client, Santander, on this important and complex financing, involving multiple jurisdictions. The cruise sector has had a robust start to the year and we are anticipating a strong pipeline of deal activity throughout the rest of 2024 and into 2025.”

Read the article online at: https://www.lngindustry.com/small-scale-lng/26042024/norton-rose-fulbright-advises-on-financing-for-two-lng-powered-cruise-vessels-for-msc-cruises/