Stuart Cormack

Partner
Expertise
    Biography

    Stuart is a partner in the Banking + Infrastructure group.

    Stuart has experience across a broad range of areas in banking and finance with a focus on leveraged and acquisition finance, unitranche and institutional debt financings, general corporate lending, sustainability linked and green lending, infrastructure, project financing and PPPs and real estate finance.

    Stuart started his career in Gilbert + Tobin’s Banking + Infrastructure team in 2010. In 2014, he moved to the Banking team in the London office of Linklaters where he became a Managing Associate. Stuart’s 3 years at Linklaters also included a secondment to the Commercial and Syndicated Lending team at the Royal Bank of Scotland in London. Stuart returned to Gilbert + Tobin in 2017.

    Recent Experience

    • Macquarie Infrastructure and Real Assets and its managed funds in relation to the Term Loan B facilities to fund its A$2.3 billion 2021 public to private acquisition of Bingo Industries Limited.
    • ANZ, MUFG, UOB and SCB as mandated lead arrangers and underwriters in relation to the c. A$2.3 billion acquisition facilities for ESR Australia’s 2021 acquisition of the $3.8 billion Milestone Logistics Portfolio, which is the largest direct real estate acquisition transaction done in the Australian market to such date.
    • The Lenders to Port of Newcastle in relation to its 2021 c. A$650 million refinancing facility by way of an innovative hybrid sustainability linked loan and green loan.
    • KKR in relation to its US TLB acquisition facilities in respect of its acquisition of 55% of the Colonial First State Group from CBA.
    • Deutsche Bank AG, Sydney, London and Singapore Branches as mandated lead arrangers and underwriters in relation to the 2020 c. A$1.53 billion refinancing, construction and working capital facilities for the AirTrunk Group in connection with its acquisition by Macquarie Infrastructure and Real Assets.
    • Deutsche Bank AG, New York Branch and Deutsche Bank AG, Tokyo Branch as mandated lead arrangers and underwriters in relation to the 2020 c. ¥45 billion construction and working capital facilities for the AirTrunk Group in connection with the establishment of it Tokyo Data Centre.
    • Canberra Data Centres in relation to its 2019 c. A$1.5 billion refinancing of its primary corporate debt facilities, including capital expenditure and working capital facilities.
    • The Lenders to Snowy Hydro in relation to various corporate debt facilities, and its c. $3.5 billion debt facilities in connection with Snowy 2.0 development.
    • Deutsche Bank AG, Sydney Branch as mandated lead arrangers in relation to the 2019 A$150 million refinancing of the Rivet Group’s corporate debt facilities.
    • HPS Investment Partners, LLC in relation to its 2019 c. A$435 million unitranche financing for Real Pet Foods Group.
    • CBA and UOB as the mandated lead arrangers and underwriters for the A$604 million debt facility to fund the 2019 acquisition of the Ixom Group by the Keppel Infrastructure Trust.
    • Deutsche Bank as the mandated lead arrangers and underwriters in relation to the A$852 million 2018 refinancing, construction and working capital facilities for the AirTrunk Group.
    • Alinta Energy in relation to various financing matters, including the 2018 refinancing of its A$920 million bank debt facilities, its 2018 A$130 million institutional debt facilities and its 2018 US$130 million and A$95 million USPP issuances.
    • The bank and debt investor syndicates in relation to the A$1.6 billion 2018 refinancing in respect of the Sydney Desalination Plant including an institutional samurai loan, which was only the second transaction involving the product in the Australian market, and the 2020 refinancing of same.

    In June 2013, Stuart was awarded Australian Lawyers Weekly 30 Under 30 Award – Banking and Finance awarded annually, recognising excellence among Australian Lawyers under the age of 30.

    LAWYERS WEEKLY 2013