HFW advises Al Seer Marine on AED 760m ship financing facility from Abu Dhabi Commercial Bank

Global, sector-focussed law firm HFW has advised Al Seer Marine (ASM) on a landmark AED 760 million, eight-year facility arranged by Abu Dhabi Commercial Bank (ADCB).

ASM is a global maritime firm based in Abu Dhabi active in commercial shipping, yachts and the defence sector. The financing from ADCB consolidates ASM’s capital structure and provide financial flexibility for the next phase of their asset-backed growth.

The HFW team comprised of Partner Tien Tai and Senior Associate Andrzej Czernis.

Tien Tai, Partner, HFW:

“We are delighted to support and partner with ASM again on this significant refinancing facility which sets the foundations for continued growth in the years ahead. This multi-jurisdictional and multi-borrower transaction reflects our continued support for our shipping clients across the Middle East on complex cross-border financings. This transaction is also unique because it showcases the regional appetite of local UAE banks to finance owners with a strong balance sheet, who remain execution focussed and committed to this strategically important sector.”

HFW’s global shipping practice has been advising clients in the sector for more than 140 years. It comprises of over 220 shipping lawyers and 14 Master Mariners located throughout the Americas, Europe, the Middle East and Asia Pacific, specialising in dry shipping disputes, admiralty and crisis management and asset finance and transactional work for clients across all sectors of the maritime industry.

HFW Dubai is the only firm ranked in Band 1 for Shipping Finance and Shipping Disputes in Chambers. HFW has more top-tier rankings for shipping in legal directories Chambers and The Legal 500 than any other law firm, and is ranked by The Times as one of the UK’s top maritime practices.