Clifford Chance

Clifford Chance advises Norled and CBRE IM on NIB Loan to invest in zero/low-emission vessels

Global law firm Clifford Chance advised Norled and CBRE Investment Management in relation to a NOK500m 7 year loan by NIB (Nordic Investment Bank) to co-finance Norled’s investments in zero and low carbon vessels and related land-based infrastructure.

The InvestEU programme supports the loan under NIB’s framework operation in green mobility and transport. This is NIB’s first InvestEU loan in Norway.

We also recently advised Norled and CBRE Investment Management on the c. NOK 8.2 billion (€700 million) term, capex and revolving credit facilities to refinance Norled’s existing debt facilities and support the growth of the business. Read more here.

Norled is a leading express boat and ferry operator in Norway providing essential transportation across the country. The company is a pioneer in delivering technology that decarbonises maritime transportation with half its operating fleet already operating with low and zero emissions vessels.

The Clifford Chance team was led by partners Alexandra Dimsdale Gill and Matt Dunn and comprised Natalia Veriasova (senior associate), Louise Baxter (senior associate) and Joshua Malek (associate), Global Financial Markets London. Will Winterton (partner) and Rachel Robertson (associate) provided derivatives advice.