Global law firm Reed Smith has advised Venture Global Shipping Holdings, LLC (“VGSH”), a wholly-owned subsidiary of Venture Global, Inc. (NYSE: VG), on the closing of a $1.5 billion senior secured vessel financing facility, which will be used, in part, to reimburse Venture Global LNG, Inc. for payments previously made by it or its affiliates in connection with the acquisition of nine LNG carriers.

VGSH entered into a credit and guaranty agreement providing for a senior secured term loan facility in an aggregate principal amount of up to $1,500,000,000. The loan facility will mature on June 26, 2032.

Deutsche Bank and ING acted as coordinating lead arrangers for the facility. ING also serves as facility agent and security trustee.

Reed Smith provided shipping-related legal support across the transaction, including advice on shipping security arrangements, charter documentation, vessel mortgages and registration, and insurance matters.

The firm’s cross-office team was led by partners Rob Wilkins, Antonia Panayides and Han Deng, with support from counsel Romain Farnoux and associate Sofia Ntali.

Rob Wilkins said: “We are delighted to have supported Venture Global on this significant transaction, which reflects our broad experience in complex, cross-border maritime and energy financings.”

Reed Smith’s global Transportation Industry Group provides comprehensive support in asset and equipment finance transactions across shipping, aviation, logistics, and offshore sectors. The team – made up of 150 dedicated transportation lawyers, with more than 1,000 lawyers having worked with transportation clients worldwide – advises owners, lessees, charterers, operators, financiers, investors, and manufacturers on a full spectrum of transportation-related legal needs.

Source: Reed Smith