Watson Farley & Williams (WFW) has advised a syndicate of banks, comprising Crédit Agricole Italia, acting as agent bank, Intesa Sanpaolo and BPER Banca, on a loan facility granted to Adria Ferries.
Adria, one of the Ieading shipping companies involved in transport between Italy and Albania, needed the finance for the acquisition of the ferry ’AF Mia’, ex ‘Cruise Smeralda’.
Her purchase was also financed through a capital increase agreed by Adria’s shareholders, Navium and Eagle 1, as well as the loan.
At 200 min length and with a top speed of 25 knots, ‘AF Mia’ can carry 1,600 plus pax and is equipped with a scrubber to reduce emissions. She has also had her propellers rebladed for fuel efficiency.
WFW Italy’s maritime team that advised the banks was led by Partner, Michele Autuori, supported by Senior Associates, Antonella Barbarito and Davide Canepa, Associate, Beatrice D’Amato and Trainee, Anna Palomba.