News

22/05/17

G+T advises on global corporate funding platform

Gilbert + Tobin has acted as lead global counsel for the financiers to Pacific Hydro on its AU$200 million and USD$350 million financing deal.

The deal involved advising an international syndicate of lenders, which included China Construction Bank – Agencia en Chile and DIFC Branch, the Commonwealth Bank of Australia, DNB Asia Ltd, Industrial and Commercial Bank of China Limited and National Australia Bank Limited, on the refinancing of project finance facilities in Chile and the establishment of a global corporate funding platform for Pacific Hydro. 

The portfolio-style transaction provides Pacific Hydro with a flexible financing package across a number of wind and hydro assets located in Australia and Chile, including refinancing opportunities for future projects. 

Pacific Hydro is a renewable energy company with a globally-significant portfolio that develops, builds and operates projects in Chile, Australia and Brazil. It is owned by China’s State Power Investment Corporation, one of the top five power generation groups in China.

Gilbert + Tobin Banking + Infrastructure partner Simon Lynch was delighted to have advised the financiers on this strategically significant deal. “Our past experience on major cross-border projects, due diligence and fundraisings was invaluable in advising the financiers and managing the technical and multi-jurisdictional challenges of this transaction, including the complex security arrangements,” he said.

“This deal highlights our team’s continued success in tackling innovative financing deals, and builds upon the success of our recent role advising Tilt Renewables on its renewable energy portfolio-style financing.”

Simon was supported by lawyers Daniel Yim, Andrew Kourpanidis and Liam Mulvey, and graduate Sarah McArthur. 

Our award winning Banking and Infrastructure team advises leading Australian and international financial institutions, investment banks, corporations and private equity funds. 
 

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