Norton Rose Fulbright advises on $200m acquisition facilities for Star Bulk Carriers Corp

17 Apr 2024Announcements

The firm plays a pivotal role in facilitating significant acquisition financing for Star Bulk Carriers Corp., solidifying its position as the largest dry bulk shipping company globally

Strategic Financing

DNB Bank ASA and ABN AMRO Bank N.V. engaged Norton Rose Fulbright to provide approximately $200 million in loan facilities to Star Bulk Carriers Corp. to support its acquisition of Eagle Bulk Shipping Inc. This financing underscores the ongoing buoyancy of the shipping industry, reflecting confidence in Star Bulk Carriers' growth trajectory.

Milestone Merger

The completion of the merger between Star Bulk Carriers and Eagle Bulk Shipping on April 9, 2024, marked a significant milestone, consolidating their positions in the dry bulk shipping sector. The infusion of new loan facilities facilitated the smooth transition and refinancing of Eagle Bulk Shipping's debt, enhancing the financial stability of the merged entity.

Legal Expertise

Led by Norton Rose Fulbright Co-Head of Asset Finance Yianni Cheilas and Athens partner Evi Platsidaki, the legal team played a crucial role in structuring and securing the new facilities, leveraging their expertise in asset finance. Senior associates Marietta Gkatzi and Panagiotis Fokas, along with associate Dimitra Petropoulou, provided invaluable support in executing the transaction seamlessly.

Anticipating Industry Growth

Yianni Cheilas expressed satisfaction with the firm's involvement in this landmark transaction, emphasising the continued strength of the shipping industry and anticipating sustained growth throughout the year. The successful completion of this deal underscores Norton Rose Fulbright's commitment to providing top-tier legal services to clients in the maritime sector.

Proven Track Record

Norton Rose Fulbright's involvement in significant maritime transactions extends beyond this recent deal. The firm's representation of DNB Bank and related syndicates in financing Cadeler A/S's merger with Eneti Inc. earned accolades, highlighting its expertise in facilitating complex maritime transactions.

Established Presence in Greece

With a presence in Greece since 1990, Norton Rose Fulbright boasts a leading legal practice in banking and finance, including shipping finance. The firm's strong track record and deep industry knowledge position it as a trusted advisor to Greek and multinational corporations across various sectors.

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