Bermuda law firm Conyers has been recognised by maritime finance industry magazine, Marine Money, for the firm’s role in six outstanding transactions awarded in the magazine’s Ship Finance Deal of the Year Awards for 2023.

Conyers said it was an unprecedented number for an offshore law firm – highlighting the firm’s dominant global ship finance practice.

In the Bank Debt Deal of the Year, the law firm was lead counsel in GasLog Ltd's $2.8 billion refinancing, completed last November, involving 14 banks, secured by 23 liquefied natural gas carriers. It is understood to have been the largest recorded debt financing within the global shipping industry, the firm said.

Director Victor Richards and associate Jacari Brimmer-Landy worked alongside Norton Rose Fulbright LLP, Athens on this matter.

Also recognised in the Wild Card Deal of the Year, the firm advised DNB Bank ASA in connection with a $1.4 billion loan facility for Frontline to finance the purchase of 24 very large crude carriers.

The deal expanded Frontline’s fleet from 65 to 89 vessels, establishing the company as the largest pure-play tanker owner in the public domain.

Director Guy Cooper and associate Nicole Yearwood worked on the matter with the Norwegian law firm, Simonsen Vogt Wiig.

In the Offshore West – Bond Deal of the Year, Conyers acted for the investment bank Pareto Securities in connection with Borr Drilling’s $1.54 billion Senior Secured Notes offering.

Marcello Ausenda, head of Conyers’ Bermuda Corporate Practice and of the firm’s Global Shipping Practice, and senior associate Alexis Haynes worked alongside the large Norwegian law firm, Thommessen.

In the Green Category Deals of the Year, Conyers provided legal counsel to BNP Paribas in connection with a sustainability linked revolving credit facility for Hafnia, the world's largest tanker company.

Mr Cooper and Ms Yearwood worked alongside Norton Rose Fulbright.

In the Project Finance East Deal of the Year, Mr Cooper and Ms Yearwood provided legal counsel to Standard Chartered in connection with a $145m senior secured term loan.

And in the Norwegian Bond Deal of the Year, Mr Cooper provided legal counsel to Stolt-Nielsen Limited in connection with its unsecured NOK 1,200,000,000 bond offering in September 2023 and subsequent NOK 325,000,000 tap issue in December 2023.

Conyers said: “This accomplishment marks the first time Conyers, or any other offshore law firm, has been involved in six award-winning transactions. These awards highlight the strength of Conyers' market-leading global ship finance and reaffirms the firm’s position as a trusted adviser in the ship finance sector.”

Mr Ausenda added: "It is gratifying that our commitment to the global shipping practice, supported by the largest and most talented ship finance team of lawyers in our sector, has resulted in an unprecedented six award winning transactions."