Norton Rose Fulbright advises National Bank of Fujairah on landmark loan for Britoil Offshore Services

Global law firm Norton Rose Fulbright has advised National Bank of Fujairah PJSC (NBF) on a finance facility for Britoil Offshore Services relating to a fleet of offshore service vessels from numerous flag states.

The cross-border Norton Rose Fulbright team was led by Singapore shipping partner Sue Ann Gan, assisted by associates Zara Loh and Rebecca Martindale. The wider team included Dubai partner Nicholas Robinson, assisted by associate Shahyan Dastur, and Milan partner Gennaro Mazzuoccolo, supported by associate Chiara Conti.

Sue Ann Gan commented:

“We are proud to have played a pivotal role in the successful completion of this offshore financing transaction for NBF and Britoil Offshore Services. This deal was complex, involving multiple flag states and a large number of vessels. This transaction not only highlights our experience in offshore financing but also reinforces our position as a leading law firm in the global market. We look forward to continuing to provide support to the parties in the years ahead.”

Dr. Yanir Landenberg, CFO of Britoil Offshore Services, commented:

“We are immensely proud to announce the successful milestone for Britoil Offshore Services. This milestone is a testament to the relentless dedication and hard work of our team, and the positive sentiment in the industry. Looking to the future, Britoil Offshore Services is positioned for continued growth. We remain committed to delivering exceptional value to our clients and contributing positively to the energy sector. We will follow our vision to be outstanding at sea in line with our core values of care, integrity, ingenuity, and agility.” 

Bilal Ashraf, Head (Energy & Marine) from NBF, commented:

“We are delighted to have successfully closed this offshore financing transaction for Britoil Offshore Services. This deal underscores our commitment to providing innovative and effective financial solutions that enable our clients to achieve their strategic objectives. We look forward to continuing our partnership with Britoil Offshore Services and supporting their future growth endeavours."