25 November – LAWFUEL – The Law News Network – International legal practice Allen & Overy last night celebrated triple award success at the 5th annual Jane’s Transport Finance Awards winning the ‘Aircraft Finance Law’ and ‘Port Finance Law’ categories. ‘Shipping Debt Deal of the Year – North America’ was awarded to key clients Citigroup and Fortis for the Seaspan deal, on which A&O also advised.
“These awards recognise not only the quality of the advice we provide our clients on the most complex and technical deals in the markets, but also demonstrate the breadth of Allen & Overy’s expertise across all sectors of the transport finance markets,” said partner Mario Jacovides who accepted the “Aircraft Finance Law” award on behalf of Allen & Overy’s Structured & Asset Finance Practice.
‘Aircraft Finance Law’ was awarded to Allen & Overy for its role advising Iberia on innovative its USD933 million Iberbond 2004 transaction for the financing of 20 new Airbus A320 aircraft.
Allen & Overy’s role advising the sponsors on the terms of the concession agreement in relation to the Pusan Newport Project, South Korea was accredited with the ‘Port Finance Law’ award.
Partner and Head of Ship Finance Group David Smith was on hand on the night to collect the “Port Finance Law” award on behalf of the Project Finance Practice and to congratulate key clients Citigroup and Fortis who won ‘Shipping Debt Deal of the Year – North America’. David led the team advising the banks in their role as lead arrangers on a USD1 billion debt facility enabling the newly IPO’d Seaspan public company to acquire 23 container vessels.