Big Law

Firms heat up for coal client

Herbert Smith Freehills and Gilbert + Tobin got Whitehaven’s $1.4 billion refinancing over the line last week.

March 16, 2015 • By Digital

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Firms: Herbert Smith Freehills (Whitehaven Coal Limited); Gilbert + Tobin (financiers)

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Deal: The fully underwritten offer of senior secured bank facilities to be provided by a syndicate of Australian and international banks.

Value: $1.4 billion

Area: Finance

Key players: The HSF team was led by partner Joel Rennie (pictured), who was supported by lawyers Rupert Baker and Emma Zarb.

G+T acted for the financiers, with ANZ, NAB, Westpac and the Bank of Tokyo underwriting the $1.4 billion facility.

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Deal significance: The facilities, which mature in July 2019, provide Whitehaven with revolving, term and guarantee lines of credit for general corporate purposes and will replace its existing debt facilities with more favourable terms.

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