WFW advises Navigator on USD133.7m secured loan

Watson Farley & Williams (“WFW”) advised Navigator Holdings Ltd (“Navigator”) on its new USD133.7m loan facility agreement with a syndicate of lenders for the financing of two new build vessels.

The facility will finance up to 65 per cent of the pre‑delivery and delivery instalments payable to Jiangnan Shipyard (Group) Co., Ltd. and China Shipbuilding Trading Co., Ltd. for the construction of two 48,500 cubic metre  liquefied ethylene gas carriers, scheduled for delivery in November 2027 and January 2028 respectively.

The syndicate of lenders comprised ABN AMRO Bank N.V., Crédit Agricole Corporate & Investment Bank and Nordea Bank Abp, filial i Norge. Navigator is the owner and operator of the world’s largest fleet of handysize liquefied gas carriers and a global leader in the seaborne transportation of liquefied and petrochemical gases. The cross-border WFW Maritime team that advised Navigator was led by Dubai Assets and Structured Finance partner Emily Widdrington, supported by London associate Jack Oldbury.

Widdrington commented, “We are delighted to support our long‑standing client Navigator on this strategically important financing, which underpins its newbuilding programme. This transaction showcases our deep sector expertise in maritime finance and our ability to deliver complex, multi‑jurisdictional financings that align with Navigator’s long‑term fleet development and commercial objectives”.