Financing

Allen & Overy advised a group of financial institutions which provided investment into the $262m (£164m) construction of the vessel The World of ResidenSea. The firm represented Westdeutsche Landesbank Girozentrale and The Centre Group, a subsidiary of The Zurich Financial Services Group. on the project. Clifford Chance advised on the shipbuilding contract as well as the debt and equity financing raised by Oslo and Bahamas-based company ResidenSea. Julia Salt, banking partner at Allen & Overy, led a team of three on the deal, which included corporate partner Alistair Asher. Suzy Stewart, senior associate at Clifford Chance, was supported by a five-strong team including partner Richard Petit and associate Kirsty Foy, all in finance.