Stephenson Harwood advises Fleetscape on $92 million sale and leaseback of six supply vessels

Law firm Stephenson Harwood LLP has advised Fleetscape Capital Limited on the sale and leaseback of six platform supply vessels (PSVs) to Golden Energy Offshore Services AS.

The transaction, worth around $92 million, involved members of the Ship Finance team assisting long-standing client Fleetscape with the sale and leaseback of the vessels on a back-to-back basis following an initial sale of four of the vessels from Vroon to Golden Energy Offshore Services AS.  Different members of the Ship Finance team assisted Fleetscape with the securitisation and back-leveraging of this six-vessel financing with Macquarie Bank Limited, London Branch.

"This was a complex deal, with numerous workstreams as well as combining various components with Golden Energy Offshore Services AS's capital raise", said Ian Mace, head of the ship finance group. "The firm has a long-standing relationship with Fleetscape and I am delighted that the team could support them in completing such a complex transaction within a challenging timeframe."

The team was led by partner Ian Mace, who was supported by managing associate Roderick McGeachy, associates Joanna Katsaouni, Hannah Marriott, Farah Butt, Matteo Martello and senior paralegal Olivia Bauer.