Acting on Transport Export Finance Deal of the Year 2024 and Global Deal of the Year 2024 at the TXF Perfect 10 Awards

We are pleased to announce that a deal on which we advised has won both the Transport Export Finance Deal of the Year 2024 and Global Deal of the Year 2024 at the TXF Perfect 10 Awards. 

Our Bermuda Finance team acted for BNP Paribas on the €4.5b financing of three new cruise ships for Carnival Corporation & plc, the world's largest cruise company. With consumer demand for cruise vacations at historic levels, the agreement with Italian shipbuilder Fincantieri provides for the design, engineering, and construction of these liquefied natural gas (LNG)-powered ships, which will be delivered in the summers of 2029, 2031 and 2033, respectively.

The Bermuda Finance team was led by partner Adam Bathgate, and senior associate Korin Knights, acting alongside Watson Farley & Williams LLP as lead legal counsel. 

Adam, Head of the Finance group in Bermuda, commented "It was a pleasure to be instructed to support on such a significant matter. The TXF Perfect 10 Awards recognition showcases the strength and depth of our Finance team in Bermuda, as well as our specialist expertise in the shipping sector".