Watson Farley & Williams (WFW) was the advisor to MSC Cruises on the €353 mill financing of a new large cruise terminal at the Port of Miami, Fla.
The building contract was placed with Italy’s Fincantieri shipyard and the project is backed by Italian ECA SACE.
Construction is expected to be completed in December, 2023 and, when finished, it will be the largest US cruise terminal.
Built in accordance with the criteria set by the Green Building Rating Systems (GBRS) for eco-compatibility, the new terminal features three berths capable of hosting the latest-generation ships and it will be able to process 36,000 passengers per day.
The cross-border WFW Assets and Structured Finance team advising MSC Cruises was led by London-based firm’s Managing Partner, Lindsey Keeble, working closely with Of Counsel, Emily Widdrington and Associates, Natasha Seel and Ella Vries.
Partner, Nick Walker advised on environment law, while Italian law expertise was provided by Milan Partner, Mario D’Ovidio.
Lindsey commented: “We’re delighted to have be able to assist MSC Cruise in ensuring the financing for this project was completed smoothly. They’re a long-standing and valued client whom we have had the privilege of advising on numerous matters including other major projects, such as the financing of their Ocean Cay private island resort in the Bahamas in 2019, which was also backed by SACE.
“To have been instructed on this and other ground-breaking projects highlights WFW’s reputation as world leading advisers to the cruise industry as well as our deep expertise in ECA-backed financings,” he said.
