Madison Marine Corp’s US$22 Million Loan Facility For Container Ships

Watson Farley & Williams advised CIT Group on the financing.

CIT Group acted as sole lead arranger on a $22 million financing for a portfolio of five container ships.

The financing was arranged on behalf of Madison Marine Corp., which is partially refinancing debt on five 4,000-TEU container ships. All five vessels are covered by existing charter agreements with a leading container liner company.

The cross-border WFW Maritime team that advised the bank on the transaction was led by London Partner Kavita Shah (Picture), with New York Partner John Benson leading on the US law aspects of the transaction.

Involved fees earner: John Benson – Watson Farley & Williams; Kavita Shah – Watson Farley & Williams;

Law Firms: Watson Farley & Williams;

Clients: CIT Group Inc.;

Author: Federica Tiefenthaler