Bracewell Advises Riverstone Credit Partners in Green Loan Facility to Harland & Wolff

HOUSTON AND LONDON – Bracewell LLP represented Riverstone Credit Management LLC, as lead lender and green loan coordinator, in a $35 million secured green loan facility for Harland & Wolff Group.

The delayed-draw term loan facility provides borrowing capacity of $35 million, with the ability for Harland & Wolff to request an increase of up to an additional $35 million in loans. The proceeds of the facility may be used to fund working capital and capital expenditures, including those associated with the fabrication of wind turbine jackets for an offshore wind project off the coast of Scotland.

The facility is classified both as a green loan and a sustainability-linked loan. It follows the Green Loan Principles published by the Loan Market Association and Loan Syndications and Trading Association and features key performance indicators focused on social responsibility.

Harland & Wolff performs fabrication and construction work within the maritime and offshore renewable, energy and defense sectors, as well as ship repair and maintenance. Harland & Wolff owns and operates four shipyards and a gas storage project in the UK.

Riverstone Credit Partners, LLC is a dedicated credit investment platform managed by Riverstone Holdings LLC, which lends to entities that build infrastructure in the renewable and conventional energy sectors, as well as entities engaged in the energy transition from a fossil-based to a zero-carbon economy.

Bracewell lawyers involved in this transaction included:

Partners: Kate H. Day and Tom C. Jamieson

Senior Associates: Benjamin M. Pridgeon and Adam T. Waszkiewicz

Associates: Anna K. Miller and Jessica F. Hastings