Banking + Infrastructure

Our Banking and Infrastructure group advises leading Australian and international financial institutions, investment banks, corporations and private equity funds.  We act for lenders, borrowers, sponsors and consortia on a range of issues from high-value corporate transactions to complex restructuring projects.

Our Approach

Our 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. Because we regularly act for lenders, borrowers, arrangers and investors, we 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 then 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 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 services 

Our experience includes:

Acquisition and Leveraged Finance 

  • 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 

  • 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 (winner of Equity Market Deal of the Year at the 2017 Australasian Law Awards).
  • 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 

  • 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.

Band 1 for Acquisition Finance

Chambers Asia-Pacific 2019

Tier 1 for Banking and Finance and Tier 1 for Restructuring and Insolvency

Legal 500 Asia Pacific 2019

Recognised for work in Unitranche financings, the only Australian firm to be recognised.

IFLR1000 Specialists Guide 2019

“I regard them very highly: they’re commercial, they provide good advice...and they’re also really pleasant to work with”

Chambers Asia Pacific 2018

M&A Deal of the Year and Australian Deal of the Year (NSW Electricity Networks acquisition of Transgrid)

Australasian Law Awards 2016

Australian Law Firm of the Year (100-500 Lawyers)

Australasian Law Awards 2016

M&A Deal of the Year for work on TransGrid

Project Finance International Awards 2015

Advisory Excellence Award for work on the Northern Beaches Hospital PPP

Infrastructure Partnerships Australia Awards 2015

International Deal of the Year, Property, Infrastructure and Projects Deal of the Year, Australian Law Firm of the Year (250-500 lawyers) and Law Firm Leader of the Year

Australasian Law Awards 2015