G+T acted for a syndicate of Australian domestic and international banks on the A$1 billion refinance of Whitehaven Coal Limited’s (Whitehaven) senior bank debt facilities.

The refinance involved restructuring Whitehaven’s existing revolving credit facility and credit support facilities providing Whitehaven with greater flexibility to capitalise on future growth opportunities.

The financing provides Whitehaven with a sustainable financing platform to expand its existing operating mine operations, capitalise on future growth projects and better support its operational and logistical requirements (via a series of bilateral credit support facility agreements).

The G+T team was led by the head of Banking + Infrastructure group and partner, John Schembri. John was supported by special counsel Spiro Papadolias, lawyer Felix Buddee and graduate Marcus Thomson.

On the transaction, lead partner John Schembri commented, “G+T are delighted to have assisted Whitehaven on this transaction, which will provide Whitehaven with a tailored and flexible financing package to help secure its strategic objectives going forward.”

Gilbert + Tobin’s Banking + Infrastructure team is recognised in the leading legal directories, including most recently being ranked at Band 1 for Banking and Finance – Acquisition Finance by Chambers Asia-Pacific 2020 and Tier 1 for Restructuring + Insolvency by Legal 500. In the IFLR1000 Specialists Guide 2019, G+T are recognised for work in Unitranche financings, the only Australian firm to be recognised. 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 to complex restructuring projects.

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