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  • videocam On-Demand
  • card_travel Banking and Finance
  • schedule 90 minutes

Ship Finance: Deal Structures, Emergence of Private Fund Lenders, Ships as Collateral, Maritime Liens, and Financial Covenants

$347.00

This course is $0 with these passes:

CLE
ALL
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Description

Shipping is a capital-intensive industry where a single income-producing asset (i.e., the ship) can cost tens of millions of dollars. In the past decade or so, many banks active in the shipping space have cut their exposure from the sector, creating an opportunity for non-traditional capital sources such as private equity or private credit funds. Finance counsel should have a thorough understanding of traditional ship financing structures and how they might vary for private fund capital sources.

Listen as our authoritative panel discusses these and other aspects of ship finance and the emergence of private fund lenders in the industry.

Presented By

Hoyoon Nam
Partner
Seward & Kissel LLP

Mr. Nam primarily devotes his time to the representation of financial institutions and borrowers in connection with bank financing and restructuring transactions with a particular focus on matters of interest to clients in the transportation industry. He is experienced in other corporate transactional matters ranging from securities, mergers and acquisitions, private equity, joint ventures and corporate governance matters.

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Michael S Timpone
Partner
Seward & Kissel LLP

Mr. Timpone is the head of the Firm’s Transportation Finance Group, a cross section of attorneys within the Firm from the Corporate Finance, Corporate Securities, Business Transactions, Litigation, Bankruptcy and Tax Departments with expertise on matters of interest to clients in the transportation industry. He devotes a large part of his time to the representation of U.S. and non-U.S. banks and other institutional lenders as well as borrowers in connection with secured loans and other financing transactions, as well as corporations and other business entities as borrowers in these transactions. Mr. Timpone has worked on matters ranging from the formation of joint ventures, mergers and acquisitions, asset finance transactions, registered and unregistered securities transactions, to restructurings.

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Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.


  • Live Online


    On Demand

Date + Time

  • event

    Thursday, March 25, 2021

  • schedule

    1:00 p.m. ET./10:00 a.m. PT

  1. Anatomy of ship finance loan
    1. Borrower structure
    2. Payment terms, amortization
    3. Security/maritime liens
    4. Financial covenants
    5. Ship covenant
  2. Default scenarios and mitigating factors
  3. Special considerations relating to the global nature of the business
  4. How fund financing might differ from a traditional bank loan
    1. Structuring flexibility
    2. Equity exit option

The panel will review these and other key issues:

  • In what respects is ship financing similar to the financing of other income-producing assets?
  • Where should a ship mortgage be filed, and what are the key components of the instrument?
  • What factors have contributed to the retreat of traditional bank lenders and the emergence of private equity lenders?
  • What additional risks relating to a shipping business' global operation must be taken into account by the lender?