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WFW advises Oak Hill on acquisition of US$182.5m container portfolio
Watson Farley & Williams (“WFW”) has advised Oak Hill Advisors (“OHA”) on its acquisition of a portfolio of over 110,000 containers from Aves One AG (“Aves One”). The portfolio is valued at c. US$182.5m and the structure involved both asset and debt elements between the parties.
OHA has approximately US$51bn of capital under management, with over 30 years of experience investing in a variety of asset classes, including performing and non-performing corporate credit, real estate, shipping, aviation and structured products as well as private equity. Aves One, listed in the Prime Standard of the Frankfurt stock exchange, is a leading asset owner of durable rail assets in the European freight market with a modern and profitable freight wagon portfolio.
Fleetscape announces new securitisation facility with Macquarie
Fleetscape Capital Limited (“Fleetscape”), the alternative capital provider to the maritime and offshore industries, has entered into an innovative financing structure with Macquarie Bank Limited (“Macquarie”), which provides a more efficient offer to vessel owners looking at higher leverage situations.
The financing provided by Macquarie is structured on securitisation principles and enables Fleetscape to offer sale-and-leaseback or unitranche financing on highly competitive terms. Coupled with Fleetscape’s unparalleled transaction-execution capabilities, the facility ensures that Fleetscape will remain one of the financing partners of choice for mid-sized and smaller vessel owners and operators seeking to raise innovative asset backed financing beyond the capabilities of their existing banking relationships.
WFW advises Macquarie Bank on first of its kind shipping loan/lease securitisation for Fleetscape
Watson Farley & Williams (“WFW”) has advised Macquarie Bank Limited (“Macquarie”) in relation to the securitisation of certain underlying loans for Fleetscape Capital Limited (“Fleetscape”) in respect of the financing of ships on lease to various lessees. Oxane acted as facility agent and security trustee.
This was an innovative and first of its kind securitisation in the shipping sector. Securitisation principles and certain structuring efficiencies were utilised to enable Fleetscape to offer sale-and-leaseback or unitranche financing on highly competitive terms. The structure is versatile and has been prepared on the basis that new shipping loans and leases will be regularly added into the structure.
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