Banking + Finance
Our banking and finance lawyers are experienced in advising on both domestic financing and cross-border transactions. Most have practised in other jurisdictions across Europe, Asia and the United States, as well as in-house with our clients. Our banking and finance lawyers regularly act for lenders, borrowers, arrangers and investors, and understand the different commercial drivers in any financial transaction. This means we are able to anticipate key legal and commercial issues likely to arise in any transaction and guide our clients through them.
We are one of the few firms in Australia that have strong relationships with, and are approved counsel for, all four major Australian trading banks and maintains strong relationships with all of the major global investment banks active in Australia; this gives us a unique insight into these institutions’ individual approaches and requirements, and also allows us to operate seamlessly for any party.
Our banking and finance lawyers work closely with our Corporate Advisory team to provide integrated advice and transaction management. We also partner with our Competition and Regulation group for clients who need advice in these areas.
Our Banking + Finance services include:
- Acquisition and leveraged finance: Advising on the debt aspects of corporate mergers and acquisitions, as well as leveraged and management buyouts.
- Corporate finance: Advising on investment-grade IPO facilities, transactional, working capital, leasing and trade finance facilities.
- Debt capital markets, securitisation and derivatives: Advising on various debt and securitisation programs, drawdowns, credit-wrapped notes, US private placements and bonds.
- Project finance and public-private partnerships (PPPs): Advising on debt and equity financing arrangements, project formation, structure and implementation for a range of projects including PPPs, special infrastructure, property development, transport, power and energy, mining and resources, and oil and gas.
- Construction: Advising on construction related aspects of high-value and complex infrastructure projects.
- Restructuring and Insolvency: Advising on restructuring and workouts, distressed debt, investing, corporate distress, voluntary administrations, liquidations, receiverships, creditor schemes and associate disputes and applications.
- Structured asset finance: Advising on asset finance transactions including aircraft and equipment leasing and off-balance sheet structures.
- Real estate finance: Advising both lenders and borrowers on the financing aspects of real estate transactions across the full suite of asset classes, including investment and development finance.
Our Banking and Finance experience includes:
Acquisition and Leveraged Finance
- KKR on the financing of its A$3.2 billion acquisition of Arnott’s.
- KKR on the $1.215 billion debt financing for its acquisition of MYOB.
- DuluxGroup on the financing of Nippon Paint’s $4.2 billion proposal to acquire DuluxGroup by scheme of arrangement.
- TPG on the unitranche financing of its approximately $1 billion acquisition of Greencross Limited.
- Beach Energy on the financing aspects of its A$1
.585 billion acquisition of Lattice Energy.
- IOOF on financing aspects of its A$975 million acquisition of ANZ’s OnePath and Wealth Management division and associated capital raising.
- Pacific Equity Partners and The Carlyle Group in relation to the Australian covenant-lite unitranche facility (with a super-senior revolving component) for their acquisition of iNova Pharmaceuticals.
Corporate and Structured Asset Finance
- Icon Group and its sponsors on the global cancer care company’s A$735 million and HK$401 million first-lien / second-lien Term Loan B financing.
- The unitranche and super senior RCF lenders to Real Pet Foods Company in relation to an A$435 million unitranche loan and a A$40 million super senior revolving working capital loan.
- Nine Entertainment Co on its corporate refinancing.
- Alinta Energy on its A$1.22 billion corporate debt financing in connection with the proposed IPO, and its subsequent trade sale.
- Viva Energy REIT Limited in relation to its initial ASX listing as a real estate investment trust which included advising on its A$837 million syndicated debt facilities for the sale and lease-back of 425 Shell/Coles Express petrol stations located throughout Australia.
- The financiers to Pacific Hydro on its A$600 million partial refinance and establishment of a global corporate funding platform, in relation to its renewable energy projects in Chile and Australia.
Debt Capital Markets, Securitisation and Derivatives
- AnheuserBusch InBev in connection with the establishment of an A$3 billion MTN Program for its Australian subsidiary and the Australian aspects of the simultaneous global buy-back of bonds issued by the Fosters Group in the US, Europe and Australia and issuance of replacement bonds in each of those jurisdictions.
- The Municipal Association of Victoria on the issue by National Australia Trustees Limited as trustee for the LGFV Program Trust of A$100 million Fixed Rate Notes due 2026 under the LGFV Program.
- Acacia Partners as arranger, on a recent landmark DCM issuance in the Australia legal market. The transaction featured an issuance by ASCF, of A$35 million of five year senior secured notes to fund a pool of short term (1-12 months), low loan-to-value ratio (LVR) loans secured by registered mortgages over Australian residential property.
Project and Infrastructure Finance
- The lender syndicate in connection with the A$3.5 billion debt facilities to fund the Snowy 2.0 pumped-hydro power station project.
- Tilt Renewables on the standalone project financing package for the operational Snowtown 2 Wind Farm asset. The package includes a 5-year A$616 million term debt facility provided by a syndicate of 8 Australian and overseas commercial banks.
- Healthscope on its long-term contract to operate the Hobart Private Hospital.
- Reliance Rail in relation to the refinancing of Australia’s largest PPP (valued at A$3.6 billion) between the NSW government and Downer EDI, including the rolling stock PPP contract, credit wrapped bonds and bank debt, to deliver the Waratah trains on the Sydney Rail network.
- Palisade Investment Partners on its successful bid to become operator of the Sunshine Coast Airport and commercial partner in the associated development of the Airport.
- National Australia Bank Limited and Sumitomo Mitsui Banking Corporation as financiers to Fotowatio Renewable Ventures, funding the multimillion-dollar construction of the Clare Solar Farm project.
- Veolia and Infrastructure Capital Group on the proposal to build, operate and maintain a water treatment plant for Centennial Coal and EnergyAustralia.
- The syndicate of financiers on the senior secured debt funding of the winning consortium bid for the A$10.3 billion privatisation of electricity distributor TransGrid by way of a 99 year lease.
Restructuring and Insolvency
- The administrators appointed to the Arrium Group, including advising on the recapitalisation of MolyCop through a dual track IPO and trade sale process (Insolvency and Restructuring Deal of the Year at the 2017 Australasian Law Awards).
- KKR, BIS Industries and its directors on the restructuring of its debt facilities.
- The Australian subsidiary of Toys”R”Us and its directors on the impact of Toys”R”Us Inc filing for Chapter II.
Awards + Recognition
Ranked Band 1 for Acquisition Finance and Corporate Finance. Also ranked for Project Finance.
"Gilbert + Tobin's team are one of, if not the best lawyers in the banking and finance area."
Ranked Tier 1 for Banking and Finance, Project Financing and Restructuring and Insolvency
Ranked Tier 1 for Leveraged Finance.
Recognised for work in Unitranche financings, the only Australian firm to be recognised.