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The large seaport of Miami Florida in wide angle on the Biscayne Bay with the skyline of the city in the background

June 21, 2022

Nelson Mullins Attorneys Represent Lenders to MSC Cruises in $378 Million Financing for Cruise Terminal

Nelson Mullins Miami partners John Haley and Carlos Loumiet, Boca Raton partner Arvin Jaffe, and Miami senior associate Franco Furmanski represented Intesa Sanpaolo S.p.A., Hong Kong Branch and Cassa Depositi Presititi S.p.A. as lenders, and SACE S.p.A. as guarantor and credit insurer, on a $378 million credit facility extended to a subsidiary of the Italian cruise operator MSC Cruises.

 Nelson Mullins prepared and negotiated the documentation for the Florida collateral package securing the financing for a new state-of-the-art cruise ship terminal for MSC Cruises to be constructed at the Port of Miami. This new terminal will accommodate up to three ships.

The Nelson Mullins team navigated several complex legal issues while structuring the Florida collateral package in order to secure SACE’s credit risk exposure for this important infrastructure project in the Port of Miami, including a mortgage by the MSC Cruises subsidiary of its leasehold interest under a ground lease from Miami-Dade County covering the land on which the MSC Cruises terminal will be built.   

Nelson Mullins collaborated closely with its co-counsel on the financing, Clifford Chance, led by Jessica Springsteen, Peter Hughes, and Daniel Justus of the firm’s Washington, D.C. office. Among other legal issues on which Clifford Chance advised SACE, the firm prepared and negotiated the English-law loan agreements.

Haley, Loumiet, and Furmanski focus on cross-border financings for a wide variety of sectors, including infrastructure, transportation, energy, technology, and media. Jaffe concentrates his practice on commercial real estate matters and institutional commercial lending.

 



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