White & Case advises Deutsche Bank AG on US$370 million exit facility for Hornblower

Global law firm White & Case LLP has advised Deutsche Bank Private Credit & Infrastructure, as sole lead arranger and a lender, on a US$370 million exit facility provided to certain subsidiaries of Hornblower HoldCo, LLC, a multi-national owner and operator of ferries and cruise vessels in the tourism and passenger transportation sector, as well as a provider of global travel experiences, in connection with their emergence from chapter 11 proceedings in United States Bankruptcy Court.

The exit facilities comprised a US$320 million term loan and a US$50 million revolving loan, with the proceeds used to refinance certain existing debt, to pay fees and expenses, and for working capital purposes.

The White & Case team was led by Debt Finance partners David Ridley and Elizabeth Kirk, and Financial Restructuring and Insolvency partner Andrew Zatz (all in New York). The team also included Debt Finance associates Ben Ludewig, Anna Williams, Mike Kowalski (all in New York) and Michael Curran (Boston); Financial Restructuring and Insolvency associates Andrea Amulic and Barrett Lingle (both in New York); and Asset Finance associate James M. Turner (London).

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