WFW Advises Technip UK on Deep Discoverer Financing

Watson Farley & Williams (WFW) has advised Technip UK on a £70.5 million financing agreement arranged by Crédit Industriel et Commercial (CIC) and BNP Paribas for the newbuild diving support vessel ‘Deep Discoverer’.

The vessel, built by the Vard Group in Norway, was acquired by a CIC-owned company.

The financing comprised a French lease of the vessel from the CIC-owned company and leased to Technip UK.

The WFW Paris team was led by finance partners Alexia Russell and Laurence Martinez-Bellet, supported by associates Natasha Seel and Konstantina Kyprianidou on the English law aspects and senior associate Christophe Garcia and associate Sophie Morin on the French law aspects.

French tax advice was provided by partner Romain Girtanner, assisted by associates Anis Mezni and Nicolas Bourdon and English tax advice was provided by partner Richard Stephens in London.

The lenders, CIC and BNP Paribas, were advised by a team of Norton Rose Fulbright led by partner Christine Ezcutari, assisted by of counsel Alexandre Roth and associates Alexis Babin de Lignac, Ayaka Millet and Constance Ollat for both English law and French law advice.

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