Even Economic Interests Can Be Sold – The Innovation Award

We received many worthy nominations in this newly added category. Many of the transactions were highly structured transactions that contained slight nuances creating slight differences from deals in the past. Some were hybrids, which combined traditional ship finance with export finance and leveraged finance. And still others equated innovation with overcoming market or credit barriers. In choosing the winning transaction for this category, we judged the nominees against a simple standard, the definition of innovation. Merriam-Webster defines innovation as “the introduction of something new” and only one transaction fit that definition in our view.

The first time award for innovation goes to DnB NOR Markets for its creative sale of a large portfolio of dry bulk timecharter contracts (the “Portfolio”) for Bunge Ltd., a leading global agribusiness and food

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