Slaughter and May advised Credit Suisse AG as secured lender in relation to the $2.2 billion restructuring of Danaos Corporation

Danaos, which is listed on the New York Stock Exchange, is one of the world’s largest independent owners of containerships and had a global fleet of 55 containerships at the time of the restructuring. The transaction – which completed out of court – resulted in a considerable restructuring of Danaos’s balance sheet and involved, amongst other things, new money and refinancing facilities, debt for equity arrangements, a multinational security package (including shared security) and complex intercreditor arrangements. 

Slaughter and May worked as a combined team with Paul, Weiss, Rifkind, Wharton & Garrison (advising on matters of US law) and Perella Weinberg Partners (as financial advisors) to support Credit Suisse’s in-house legal team.