Italy's DeA Capital Alternative Funds has sealed a deal to refinance Italian bulker owner Monteverde di Navigazione.

Law firm Watson Farley & Williams (WFW) advised DeA Capital on the restructuring of the Naples-based shipping company and its 100%-owned subsidiary Montegreen, which together control three Chinese-built open-hatch geared handysizes.

DeA Capital was described by WFW as a "creditor", but no further details of the refinancing were given.

Furio Samela is a partner at WFW in Italy.