Global law firm Norton Rose Fulbright has advised longstanding client Citi, as mandated lead arranger, co-ordinator and bookrunner, agent and security trustee, on a strategically important $500 million term and revolving credit facility for luxury travel and leisure company Abercrombie & Kent (A&K). The facility was put in place to assist A&K with the ongoing expansion of its established and market leading luxury travel business, as well as its newer luxury cruise business “Crystal”, with the existing Crystal vessels serving as collateral for the facilities. The Crystal brand is set to expand further following the announcement that A&K has signed an agreement with Fincantieri for the purchase of two high-end passenger cruise vessels.
The Norton Rose Fulbright team advising on the deals was led by the firm’s Co-Head of Asset Finance, Yianni Cheilas, and counsel Matthew Bambury. Yianni and Matthew were supported by counsel Niki Alexandrou, senior associates Nicholas Papadopoulos and Eliana Miliou, associates Rebecca Daniels and Alexander Clarke, and trainees Lucrezia Cavuto and Merna Daabis. London-based acquisition finance partner Neha Khosla, counsel James Tong and associate Jack Zheng assisted on related finance aspects, and partner Kirstin Russel and senior associate Jessica Sorah separately advised Citi as security trustee.
Yianni commented: “It was a pleasure to assist our longstanding client, Citi, with this landmark and strategically important financing for Aber.