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WFW advises Danaos on US$1.25bn refinancing | Hellenic Shipping News Worldwide


WFW advises Danaos on US$1.25bn refinancing
Watson Farley & Williams (“WFW”) has advised long-standing client Danaos Corporation (“Danaos”) on the refinancing of US$1.25bn of its outstanding senior secured debt (which totalled US$1.3bn as of 31 December 2020).
Danaos has refinanced all its outstanding debt under nine senior secured credit facilities, streamlining its capital structure from nine credit facilities to one. WFW advised on a US$815m senior secured credit facility with Citibank N.A. and National Westminster Bank plc, a US$135m sale and leaseback agreement with Oriental Fleet International Company Limited, an affiliate of COSCO Shipping Lease Co., Ltd., in respect of five vessels, and Danaos’ February 2021 offering, proceeds of which amount to US$300m of 8.500% Senior Secured Notes due in 2028. ....

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Apple has been granted a patent for Systems relating to a National ID Verification System


Apple has been granted a patent for Systems relating to a National ID Verification System
 
Today the US Patent & Trademark Office published a granted of Apple s titled Identity Credential Verification Techniques. Apple s invention provides systems, methods, and computer-readable medium for improving data security with respect to data collection, verification, and authentication techniques associated with obtaining and transmitting identity information. It would appear that it further relates to a future National ID system.
 
In a way you have to work backwards in order to even get a glimpse of understanding as to why this super complex patent has anything to do with Apple devices and their customers.   ....

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