Victor Richards

Director

Bermuda | T +1 441 299 4926
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Victor Richards is a Director in the Bermuda Corporate practice.

His practice includes all aspects of Bermuda corporate law, with a particular focus on shipping and aircraft matters. Victor advises banks, owners, private equity firms and other corporate entities on all aspects of shipping and aircraft registration, finance and transactional matters including debt financings, restructurings, bond issues, IPOs and securitizations.

Before joining Conyers in 2010, Victor spent five years training and working in London, where he gained experience working in project and asset finance.

Jurisdiction

Experience

  • Advised Carnival Corporation in respect of its private offering of US$1 billion aggregate principal amount of 5.875% senior unsecured notes due 2031.
  • Acted as special Bermuda counsel to Teekay Corporation Ltd. and Teekay Tankers Ltd. on their redomiciliation from the Marshall Islands to Bermuda, positioning the NYSE-listed companies for long-term success.
  • Advised GasLog Ltd. on its sustainability-linked refinancing consisting of a US$2.8 billion loan with 14 banks secured by 23 LNG carriers. The loan is understood to be the largest ever debt financing recorded in the global shipping space.
  • Advised Carnival Corporation & plc on a debt refinancing transaction resulting in approximately US$1.8 billion of proceeds to the company.
  • Advised GLAS Americas LLC in connection with the Latin American airline Avianca’s emergence from Chapter 11 restructuring with significantly reduced debt, US$1.7 billion in fresh investments and more than US$1 billion of liquidity.
  • Advised Carnival Corporation on two private offerings totalling US$8.8 billion.
  • Advised ABN AMRO Bank N.V., as agent and security agent in connection with US$576.9 million loan facility agreement to refinance the GasLog group’s debt maturities due in 2021 and create additional liquidity for the group.
  • Advised L Catterton on its investment by way of private placement by Norwegian Cruise Line Holdings Limited of up to US$400 million in aggregate principal amount of exchangeable senior notes due 2026.
  • Advised Carnival Corporation on its private offering of US$6 billion in two tranches of notes in the face of COVID-19 challenges. The transaction involved numerous jurisdictions including Bermuda, US, UK, Curaçao, Italy, Panama, Cayman and The Bahamas.
  • Advised Odfjell Drilling Ltd on its purchase of a semi-submersible, harsh environment drilling unit, named Deepsea Nordkapp.

Qualifications

Professional Background

  • Asset finance lawyer, Reed Smith LLP, London
  • Project finance lawyer, Bevan Britain LLP, London

Education

  • College of Law, London, UK, Legal Practice Course 2004
  • University of Bristol, M.A., Legal Studies, 2003
  • University of Western Ontario, B.A. (Hons), Philosophy

Bar Admissions

  • Bermuda, Attorney-at-law, 2010
  • England & Wales, Solicitor, 2006 (not currently practising)

Awards & Accolades

  • Recognised in the 2024 edition (and since 2018) of Legal 500 Caribbean (banking, finance and capital markets)
  • Recognised in the 2019 edition (and 2018) of Legal 500 Caribbean (corporate and commercial)