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Baker Botts Advises Harland & Wolff on its Successful £1.6 Billion Team Resolute Bid and $100 Million Green Loan and Sustainability-Linked Loan Facility

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Deal Description: Baker Botts transactional team led by London global projects partner Shashank Krishna advised Harland & Wolff Group Holdings plc (Harland & Wolff), an AIM-listed energy and infrastructure company on its landmark approx.£1.6 billion consortium bid (Team Resolute) along with Navantia and BMT to deliver three naval support ships to the UK’s Ministry of Defense (MOD) as part of the UK’s Fleet Solid Support Programme (FSS).

The vessels will provide munitions, stores and provisions to the Royal Navy's aircraft carriers, destroyers and frigates deployed at sea. The final assembly of all three ships will take place at the Belfast shipyard famous for building the Titanic and the site of Samson and Goliath cranes.

The Baker Botts team further advised Harland & Wolf on its approx. £800 million sub-contract with Navantia.

The contract is a crucial part of a major transformation of the company and a leg up for a national industry. The transaction is expected to create 1,200 jobs in the UK and will see revival of shipbuilding in Belfast after nearly 20 years.

Team Resolute will invest £77mn to upgrade Harland & Wolff’s four sites, with the majority spent on modernizing the shipyard in Belfast.

Baker Botts, led by Harland & Wolff client relationship partner, continues to advise Harland and Wolf on all of their major projects and transactions including on its landmark $100 million (initial financing and subsequent upsize) secured green loan and sustainability-linked loan facility from Riverstone Credit Partners.

Baker Botts Lawyers/Office Involved:

Shashank Krishna (Partner, London), Nick Collins (Partner, London), Sian Williams (Partner, London), Jonathan Goldstein (Partner, New York), Melanie Henson (Counsel), Edward Hills (Counsel), Michael Walton (Senior Associate, London), Jennifer O’ Donoghue (Associate, London), Inaya Homoud (Associate, London), Ciaran Mcilwham (Associate, London), Nazia Begum (Associate, London), Amber Smith (Paralegal, London)

ABOUT BAKER BOTTS L.L.P.
Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.

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