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Stephenson Harwood advises Ardmore on $350 million vessel refinancing
Law firm Stephenson Harwood LLP has advised Ardmore Shipping Corporation ('Ardmore') on a $350 million secured revolving credit facility refinancing.
The refinancing was provided by Nordea Bank ABP, Filial i Norge, Skandinaviska Enskilda Banken AB (Publ), ABN AMRO Bank N.V., and Danske Bank A/S.
Ardmore, listed on the NYSE, owns and operates product and chemical tankers engaged in worldwide trade. This transaction aligns with Ardmore's commercial objectives, operational requirements, and current market conditions.
"This deal required us to share our commercial insights, as well as our legal acumen," said Ian Mace, Global Head of Maritime Trade and Offshore (MTO) Finance at Stephenson Harwood. "As a sophisticated owner with long-term needs in sight, we were able to draw on our deep industry expertise to ensure that our client received holistic advice which took the full picture into account. The deal required a collaborative approach, working with financiers to ensure an outcome which reflected – and achieved – each party's goals."
Ian Mace led the team, supported by MTO Finance Associate Vanessa Stefou. Finance Managing Associate Katie Horbury provided additional advice relating to derivatives.