Ciaran Bohnacker
Partner
Dubai
The eight-year facility was secured through first-priority mortgages over a selected group of operating vessels, reinforcing the ASM's capital efficiency and asset-backed growth strategy.
ASM is a leading maritime company based in the UAE and a subsidiary of International Holding Company, widely regarded as one of the most dynamic investment holding companies in the world.
Our Dubai-based team advised on all Cayman Islands legal aspects of the transaction, working closely alongside lead counsel Dentons. Our team was led by partner Ciaran Bohnacker, senior counsel Gareth Lond and senior associate Szymon Durlo.
Commenting on the deal, Ciaran Bohnacker said: "We are pleased to have advised our long-standing client Abu Dhabi Commercial Bank on another successful vessel financing. There is currently great demand from both lenders and borrowers for these types of financings in the Middle East; supporting investment across LNG, LPG, crude oil, and petrochemicals."
We are proud to continue working alongside the region's leading financial institutions and legal advisors to support innovative and sustainable financing structures in the maritime sector. This transaction also follows our recent role advising ADCB on the AED210m ship financing to ASBI Shipping, the joint venture between Al Seer Marine and B Shipping, to support the acquisition of small and midsize LPG tankers.
