International contractor upsizes $2.6bn
DibbsBarker has advised one of the world’s leading international contractors on the upsizing of its core working capital cash facility.
Firm: DibbsBarker (CIMIC Group Limited)
Deal: CIMIC Group has been advised in the upsizing of a syndicated cash facility.
Value: $2.6 billion
Area: Banking and finance
Key players: The legal team advising CIMIC Group was led by DibbsBarker banking and finance partner Brad Allen, with assistance from senior associate Joshua Khoo.
Deal significance: CIMIC Group is described as one of the world’s leading international contractors and the world’s largest contract miner. It operates in more than 20 countries throughout Asia-Pacific, the Middle East, North and South America and sub-Saharan Africa.
This deal saw DibbsBarker advise CIMIC Group in upsizing its core working capital cash facility. The refinance was heavily over-subscribed with a strong response from lenders in Australia and Asia, according to a statement.
“This transaction is all about flexibility and liquidity – it reinforces the notion that providing debt to quality Australian borrowers continues to be an attractive choice for offshore financial institutions,” said DibbsBarker’s lead partner Brad Allen.
“We very much enjoyed working with all parties involved to bring the deal to a close".