G+T has advised on the $810m committed financing for APM Human Services International Limited – the first Social Loan linked corporate debt facility in Australia.
The $810m Social Loan linked corporate debt facility is committed to be provided by a syndicate of 9 lenders. The new facility will refinance APM's existing US Term Loan B facilities.
The facility will be applied in a manner that is aligned with the Asia Pacific Loan Market Association's Social Loan Principles and APM's Social Loan Framework, in line with APM's core purpose of 'Enabling Better Lives'.
APM was founded by Megan Wynne in 1994, and now operates in 11 countries offering a broad range of services focused on enhancing an individual's employability, health & wellbeing, and social and economic participation in the community.
The G+T team was led by partner and Head of Banking, Gail Christopher. Gail was supported by a team of lawyers comprising Michael Spurritt, Callum Hinwood, Kim Nguyen and Emily Donaldson.
Gail commented, "It was a privilege to have supported Gilbert + Tobin's long-time client APM on this Australia first corporate Social Loan. This landmark refinancing represents another significant milestone for APM after it listed on the ASX in late 2021 and is an excellent example of a company operating through purpose. I am very proud to have advised APM on the first Social Loan linked corporate facility in Australia with the support of my team and hope to see more of these financings in the Australian market soon."
G+T have previously advised APM on many milestone deals including on its $972m IPO and ASX listing in 2021 as well as Quadrant Private Equity's initial investment and subsequent sale of APM, all of which were led by partner, David Josselsohn.
Skye Capital Advisory acted as debt advisors to APM. Completion of the refinancing is expected to occur in mid-July.
Gilbert + Tobin's Banking + Projects team is recognised in the leading legal directories, including most recently being ranked at Band 1 for Banking and Finance – Acquisition Finance and Corporate Finance by Chambers Asia-Pacific 2022. G+T has significant experience advising 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 and major bespoke financings to complex restructuring projects.