Norton Rose acted for a syndication of banks, led by MeesPierson NV, which agreed to finance the acquisition and conversion of the floating production, storage and offloading vessel Kuito through a $135m (£84.38m) loan facility. The borrower, a joint venture between IHC, a subsidiary of IHC Caland, and Sonangol, the Angolan state oil company, was also represented by Norton Rose. Asset finance partner Jeremy Gibb led the team. John Stein assisted. Berwin Leighton corporate partner Nicola Davies represented the various IHC Caland shareholders.
Hammond Suddards acted for Global Reach, the telecommunications company, on a £20m investment in its share capital by Deutsche Bank and CapVest. The investment was made for the purposes of funding telehousing construction projects. Corporate finance partners Ged O’Neill and David Bayliss led the team. Richard Curran assisted. Berwin Leighton, led by corporate partner Daniel Rosenberg, advised Deutsche Bank and CapVest. Michael Dawes assisted.
