Olivia Cullen
Special Counsel
Norton Rose Fulbright LLP
Related services and key industries
Biography
Olivia Cullen is a banking and finance lawyer based in London. She specialises in the shipping and offshore energy sectors as well as export finance.
Olivia has advised borrowers, lenders and export credit agencies on transactions which are highly structured across multiple jurisdictions. She has spent time on secondment with clients, most recently with UK Export Finance advising on a variety of their financing structures and products.
Olivia has experience advising on the financing of vessel and offshore equipment (including accommodation units, FSOs, FPSOs and drilling rigs), as well as other project and asset finance matters, including aviation. Olivia has advised on transactions with certain assets operating offshore Brazil, in the North Sea, Angola, Spain, Australia and Japan predominantly with export credit agency support.
Olivia has been involved in significant restructuring matters. She lead part of the team that represented the Coordinating Committee of Secured Lenders and Agents (CoCom) in the restructuring and emergence of Altera Infrastructure L.P. (leading international midstream services provider to the oil and gas industry) from Chapter 11 bankruptcy protection on January 6, 2023.
Olivia is founder and chair of our Women in Maritime network and is passionate about the sustainable future of shipping and offshore energy.
Professional experience
-Alle schließen- Solicitor, qualified in England & Wales
Advising:
Offshore and Shipping
- Coordinating Committee of Secured Lenders and Agents (CoCom) in the cross-border pre-negotiated restructuring of Altera Infrastructure L.P., a UK-based offshore oil and gas service vessel provider, which commenced Chapter 11 proceedings on August 12, 2022 in the US Bankruptcy Court for the Southern District of Texas and emerged on 6 January 2023
- Major international credit institutions (including an ECA) – of the restructuring of two facilities to a jack-up rig owning company
- Major international banks on refinancing of two geotechnical drilling rigs operating under the flag state of Singapore
- Containership owner on various financing, refinancing and corporate reorganisation transactions
- Major international banks on a US$500.7m financing (project and corporate) for the construction of the world's biggest wind farm installation vessel in Korea, which was supported by Korean export credit agency K-Sure
- A Dutch bank on a US$180m Atradius-backed financing to upgrade and modify an FPSO for operation in Atlanta Field, located in the Santos Basin offshore Brazil
- Major international banks on refinancing an existing project finance facility and revolving credit facility involving the restructuring of the security package over five FPSOs, involving security in five jurisdictions
- International banks on financing two ultra-deepwater drilling rigs operating offshore Brazil
- Maersk Drilling on the acquisition of a new-build jack-up rig from Hercules Offshore immediately prior to its Chapter 11 filing
- International banks – on a EUR100m secured refinancing of an LNG carrier flagged in Spain
- International banks – on a $200m secured refinancing of two LNG carriers flagged in Spain
Aviation
- TAAG on the financing of six new delivery aircraft, with support from African Export-Import Bank. This transaction won Africa deal of the year in the Airfinance Journal Awards in June 2021
- Jet2.com Limited on a JOLCO transaction for 6 x Boeing 737-800 Aircraft
- A European airline on the negotiation and completion of lease novation arrangements for 14 Airbus aircraft within their fleet
- An Israeli leasing company on the joint venture purchase of an Airbus aircraft on lease to a Danish Airline from an Irish leasing company, including an onward sale and leaseback of the engines to the joint venture partner
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