Norton Rose Fulbright Advised Lenders, SACE And SIMEST On Circa $2 Billion Financing Of Four Ocean-Going Cruise Vessels For Viking Ocean Cruises
Norton Rose Fulbright Advised Lenders, SACE And SIMEST On Circa $2 Billion Financing Of Four Ocean-Going Cruise Vessels For Viking Ocean Cruises
Norton Rose Fulbright, a global law firm, advised BNP Paribas on the financing of four new cruise vessels for Viking Ocean Cruises. The firm is globally recognised for having leading Shipping and Ship Finance practices. Simon Hartley is named as a Band 1 practitioner for shipping finance in Chambers Global 2025 and as a Leading Partner for Transport Finance and Leasing in the Legal 500, with Matthew Bambury listed as a Leading Associate / Rising Star in the same category.
BNP Paribas is a syndicate of lenders, SACE and SIMEST and Norton Rose Fulbright has advised it on fourteen of these financings.
The financing consists of four export credit loan facilities, which are together worth around $2 billion. The facilities are backed by Italian export credit agency SACE and contain a fixed rate subsidy offered by SIMEST. The ocean-going passenger cruise vessels are being constructed at Fincantieri S.p.A. and are the 17th to 20th ocean cruise vessels to be built for Viking.
Partner Simon Hartley from Norton Rose Fulbright team working on the transaction, said, “This is the third such deal that we have worked on for our clients, involving the financing of new vessels in Viking Ocean Cruise’s growing fleet. This latest transaction, which is the first for Viking since it went public last year, demonstrates the ongoing high confidence in the passenger cruise sector that we are seeing across all sub-sectors, including the luxury segment in which Viking operates.”
The Norton Rose Fulbright team was led by Simon Hartley (Partner) supported by Matthew Bambury (Counsel) and Jennifer Carr (Associate) in the firm’s London office.
Italian law aspects relating to the SACE export credit arrangements were advised by Arturo Sferruzza (Partner) in the firm’s Milan office.
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