Norton Rose Fulbright has advised Alpha Bank on its second shipping securitization, which raised USD 250 million. The transaction was arranged and financed by Citi.
According to Norton Rose Fulbright "the financing, a non-recourse 4-year term dollar funding, entailed a unique loan style structure and follows Alpha Bank’s shipping securitization raising approximately USD 500 million in 2014, on which Norton Rose Fulbright also advised. It is the only shipping securitization transaction to be placed by a Greek bank and one of very few shipping securitization transactions globally."
Norton Rose Fulbright Partner David Shearer, who led the firm's team, supported by Associate Merel Klinkers, commented that: “This financing structure provides a unique solution. It demonstrates the utility of structured finance techniques for crafting bespoke arrangements for financing high value portfolios.”