Gilbert + Tobin have acted as advisers to Commonwealth Bank of Australia and United Overseas Bank Limited, Sydney Branch as Mandated Lead Arrangers and Underwriters for the A$604 million debt facility in order to fund the acquisition of the Ixom Group by the Keppel Infrastructure Trust from Blackstone.
The transaction and documentation was structured to provide for the significant transactional banking needs of the Ixom Group’s global business, with those arrangements sitting alongside the acquisition debt in the structure.
The Gilbert + Tobin team was led by Banking + Infrastructure Partner John Schembri, and also included Lawyers Stuart Cormack, Vern Lim and Sean Macdonald.
Partner John Schembri said of the deal, “We are very pleased to have advised CBA and UOB on this transaction, which is among the largest acquisition financings to close in the Australian market in the last 12 months. This deal demonstrates that although the institutional debt market in the Australian acquisition finance market continues to grow, bank mandates, coming with all of the traditional transactional products that the banks can offer, remain a very compelling and competitive option for Sponsors for the right credit.”