Norton Rose Fulbright advises PKO Bank Polski and mBank on financing for Unibaltic Group’s acquisition of a new tanker vessel

Global law firm Norton Rose Fulbright has advised PKO Bank Polski and mBank S.A. on financing granted to Unibaltic Group in connection with the acquisition of a new oil and chemical tanker, Amonith.

The transaction comprised a complex asset finance structure supporting the purchase of the vessel and involved the establishment of a comprehensive security package, including ship mortgages and security interests over various categories of assets.

The transaction required coordination across multiple jurisdictions, including Poland, England, Malta, Cyprus and the Marshall Islands. It involved intricate procedures related to vessel registration and preparation, negotiation and perfection of security documents in each relevant jurisdiction. The successful completion of the financing demonstrates the lenders' continued support for cross-border maritime projects and highlights the sophistication of ship finance transactions in the Central and Eastern Europe region.

The Norton Rose Fulbright team in Warsaw was led by counsel Krzysztof Gorzelak PhD, and included associates Natalia Rybak and Michał Rutkowski, all working under the supervision of partner Grzegorz Dyczkowski, who heads the firm's Warsaw office and Warsaw banking and finance practice. London-based partner Richard Howley, senior associate Jennifer Carr and special counsel Nicholas Papadopoulos provided English law advice.

Krzysztof Gorzelak PhD, commented:

"This transaction highlights Norton Rose Fulbright's strength as a global shipping finance practice and it demonstrates our capabilities to offer necessary expertise in all required jurisdictions. The multi-jurisdictional structure and complexity of the security package required close coordination between multiple legal teams and stakeholders. We are pleased to have supported PKO Bank Polski and mBank on another important financing in the maritime sector."