The transaction formed part of a broader corporate restructure associated with the acquisition by Chow Tai Fook Enterprises and Far East Consortium International of The Star Entertainment Group’s interests in the consortium. It required coordination across a large and diverse group of stakeholders in Australia and offshore and complex advice to banks across the Asia Pacific region at very senior levels.
The refinancing establishes a new funding platform for the Queen’s Wharf Brisbane precinct, a major integrated resort development on the Brisbane riverfront comprising a casino, premium hotels, residential apartments and a large-scale retail and entertainment offering. The project is expected to play a significant role in Queensland’s tourism and infrastructure landscape, particularly in the lead up to the 2032 Olympic and Paralympic Games.
G+T advised the bank syndicate on all aspects of the transaction, working through a complex and highly visible restructuring process involving multiple counterparties and interdependent arrangements.
G+T’s team was led by partner John Schembri, with support from Alison Morris and Daniel Wangatau. The restructuring aspects were led by partner Orla McCoy, with support from Tom Gardner and Mikhail Glavac.
John commented:
This was a highly complex restructuring and refinancing involving a wide range of stakeholders and moving parts across jurisdictions. The outcome provides a stable and flexible platform for one of Australia’s most significant tourism and infrastructure assets, and we are pleased to have supported the lender group in achieving this result.
