Norton Rose Fulbright advises Citi on $500 million secured facility for Abercrombie & Kent

International regulation agency Norton Rose Fulbright has suggested longstanding consumer Citi, as mandated lead arranger, co-ordinator and bookrunner, agent and safety trustee, on a strategically essential $500 million time period and revolving credit score facility for luxurious journey and leisure firm Abercrombie & Kent (A&Okay).

The power was put in place to help A&Okay with the continued growth of its established and market main luxurious journey enterprise, in addition to its newer luxurious cruise enterprise ‘Crystal’, with the present Crystal vessels serving as collateral for the amenities. The Crystal model is about to increase additional following the announcement that A&Okay has signed an settlement with Fincantieri for the acquisition of two high-end passenger cruise vessels.

The Norton Rose Fulbright staff advising on the offers was led by the agency’s Co-Head of Asset Finance, Yianni Cheilas, and counsel Matthew Bambury. Yianni and Matthew have been supported by counsel Niki Alexandrou, senior associates Nicholas Papadopoulos and Eliana Miliou, associates Rebecca Daniels and Alexander Clarke, and trainees Lucrezia Cavuto and Merna Daabis. London-based acquisition finance associate Neha Khosla, counsel James Tong and affiliate Jack Zheng assisted on associated finance points, and associate Kirstin Russel and senior affiliate Jessica Sorah individually suggested Citi as safety trustee.

Yianni commented: “It was a pleasure to help our longstanding consumer, Citi, with this landmark and strategically essential financing for Abercrombie & Kent. The leisure and tourism trade as an entire, and significantly the cruise trade, is at the moment experiencing a post-COVID growth and it’s encouraging to see new entrants to the cruise market similar to A&Okay, who’ve a considerable pedigree and monitor report in different points of leisure and tourism. We anticipate this degree of exercise to proceed and transactions like this proof our capacity to mix our international common banking experience with our sector particular market main transport, tourism and hospitality practices throughout the community.”

Norton Rose Fulbright gives the total vary of authorized companies to the worldwide company finance, acquisition finance and delivery and offshore finance mandates, together with to banks, lessors, brokers, homeowners and operators worldwide. Its attorneys advise on all points of company, banking, delivery and offshore transactions, similar to mergers and acquisitions, leverage finance, advanced leasing offers and ship gross sales, acquisitions and constitution transactions.