Posted on: 31 March 2023
Global law firm Norton Rose Fulbright has advised ABN AMRO, as documentation agent and sustainability coordinator for a syndicate of lenders, on a $200m sustainability and gender diversity linked loan to Navigator Gas L.L.C. (Navigator) for the re-financing of ten LNG carriers.
The deal, which completed on 28 March, incorporates KPIs linked to both the environmental performance of Navigator’s fleet and – in what is a new development for the shipping industry – the number of women holding leadership roles at Navigator.
The Norton Rose Fulbright team was led by partner and global co-head of shipping Simon Hartley, with support from associate Oliver Webber and trainee Maria-Christina Papoulia.
Simon Hartley said:“This was a highly innovative form of financing – it is great to be able to see and play a part in the emergence of new forms of financing, knowing that they will help to support the development of future diversity in leadership within the sector.”
The firm’s global shipping lawyers advise a range of clients on the full spectrum of international shipping finance including work for banks, lessors, brokers, owners and operators worldwide. They also cover areas ranging from anti-competitive actions to ship conversion disputes, the latest environmental regulation and the digitalisation of the industry.
For more information on the emerging trend of gender diversity in shipping loan agreements, visit Norton Rose Fulbright’s website here: Incentivising gender diversity in shipping loan agreements | United Kingdom | Global law firm | Norton Rose Fulbright
