Linklaters advises Associated British Ports on £300m term facility with the National Wealth Fund

Linklaters has advised Associated British Ports on a ground-breaking £300m term facility agreement to support a major infrastructure investment programme across the UK’s largest port network, underpinning economic growth, strengthening supply chains and supporting the transition to cleaner energy.

National Wealth Fund Limited – the UK government’s dedicated vehicle for investment in capital-intensive infrastructure, supply chains and businesses across the UK – has committed to provide £200m under the facility. Ports have been identified as central to strengthening the UK’s trading capacity and are a priority for investment by the National Wealth Fund and the UK Government. A private sector banking group – led by Bank of America, N.A., London Branch, together with Lloyds Bank plc and National Westminster Bank plc – has committed to provide the remaining £100m under the facility. The facility underscores the role that public and private capital can play in partnership to advance critical national infrastructure.

The programme is structured to support projects at ports across Britain to unlock growth, boost jobs and create new opportunities for business investment in coastal and industrial communities.

The Linklaters team was led by Mark Nuttall (Partner), assisted by Benjamin Dewsnip (Counsel), Joseph Stedman Jones (Managing Associate), Nicholas Jensen (Associate) and Ebunoluwa Akinleye (Trainee Solicitor).