Norton Rose Fulbright advises financiers on Star Bulk acquisition
Published by Oliver Kleinschmidt,
Editorial Assistant
Dry Bulk,
Global law firm Norton Rose Fulbright has advised DNB Bank ASA and ABN AMRO Bank N.V. on the provision of circa US$200 million loan facilities to Star Bulk Carriers Corp., in order to assist it with its acquisition of Eagle Bulk Shipping Inc.
The merger of Nasdaq-listed Star Bulk Carriers with Eagle Bulk Shipping, by way of a share exchange, completed on 9 April 2024 and has led to Star Bulk Carriers becoming the largest dry bulk shipping company in the world. The new loan facilities have been used to refinance Eagle Bulk Shipping’s debt.
Norton Rose Fulbright supported with the creation of the new facilities, secured on 25 vessels and related collateral.
The team was led by Norton Rose Fulbright Co-Head of Asset Finance and Head of Greece Yianni Cheilas and Athens partner Evi Platsidaki, with assistance from senior associates Marietta Gkatzi and Panagiotis Fokas, and associate Dimitra Petropoulou.
Yianni Cheilas said: “We were delighted to support our clients on this landmark transaction. This deal demonstrates the continued buoyancy of the shipping industry across all sectors in the first half of 2024, which we anticipate will continue into the second part of the year.”
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Read the article online at: https://www.drybulkmagazine.com/shipping/17042024/norton-rose-fulbright-advises-financiers-on-star-bulk-acquisition/
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