Holland & Knight Honored with Three Marine Money Deal of the Year Awards for 2025
NEW YORK (May 15, 2026) – Holland & Knight won Marine Money's 2025 Deal of the Year Award in three separate categories: Export Credit Deal of the Year, Norwegian Bond Deal of the Year and Offshore Bank Debt Deal of the Year.
In a transaction that was named Export Credit Deal of the Year, Holland & Knight advised International Seaways Inc. (NYS: INSW), a major tanker company engaged in the ownership and operation of crude, product and chemical tankers around the world, in connection with a $331 million Korean Export Agency-guaranteed financing facility. International Seaways entered into a credit agreement with DNB Bank ASA, New York Branch, as facility agent, K-SURE agent, security agent and hedge counterparty; DNB Capital LLC as lender; and DNB Markets Inc. as arranger. The facility included a $240 million term loan and $91 million revolving credit facility to partially finance the construction of six LR1 scrubber-fitted, liquefied natural gas (LNG)-ready new buildings at K-Shipbuilding in Korea. The Firm's representation of International Seaways was led by Partner Jovi Tenev.
Holland & Knight's representation of International Seaways was also recognized as the Norwegian Bond Deal of the Year. Partner Jovi Tenev led the deal team in advising on the successful placement of $250 million of new senior unsecured bonds in the Nordic bond market. The five-year maturity notes were placed with a fixed coupon of 7.125 percent per annum, payable semi-annually in arrears. The net proceeds were used for refinancing of International Seaways' Ocean Yield sale-and-leaseback agreement ($258 million of sale leasebacks), unencumbering six vessels and for general corporate purposes. DNB Carnegie, Nordea Bank Abp, filial i Norge, Arctic Securities AS and Skandinaviska Enskilda Banken AB (publ) Oslofilialen acted as joint bookrunners, and Credit Agricole Corporate and Investment Bank, Clarksons Securities AS and Fearnleys Securities AS acted as passive joint lead managers in the bond issuance.
Additionally, in a transaction named the Offshore Bank Debt Deal of the Year, a team led by Partners Mike Timpone and Sophia Agathis represented DNB Bank ASA, New York Branch, as agent and a syndicate of lenders in connection with a $250 million senior secured revolving credit facility made available to Tidewater Inc. for general corporate purposes and asset acquisitions. The facility is secured by a fleet of more than 50 offshore vessels consisting of platform supply vessels, anchor handling towing supply vessels, offshore tugboats, crew boats and fast supply vessels, and guaranteed by all U.S. subsidiaries of Tidewater Inc. Deutsche Bank AG, DNB Carnegie Inc. (formerly DNB Markets Inc) and JPMorgan Chase Bank N.A. acted a bookrunners and mandated lead arrangers for the facility, which included a syndicate of nine financial institutions.
Marine Money's annual Ship Finance "Deals of the Year" Awards recognize the global bankers, financial advisors and legal teams who execute exceptional transactions. View the full list of winners here.
Winners will be recognized at Marine Money Week in New York in June.