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Queensland power station undergoes refinancing
Global law firm White & Case has advised a syndicate of 13 international financiers on the refinancing of a 850 megawatt power station in Queensland.
Emma Musgrave
Firm: White & Case (international financiers)
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Deal: 13 international financiers have been advised on the refinancing of the Millmerran Power Station, owned by InterGen and China Huenang Group.
Value: Undisclosed
Area: Finance
Key players: The White & Case team in Australia which advised on the transaction was led by partner Brendan Quinn with support from associate Alexis Fong. A separate White & Case team in Australia consisting of partner Cameron Watson, with support from associate Alicia Jennison, advised the exiting financiers.
According to a statement from White & Case, the borrower's financial adviser was Macquarie Capital Advisers and its legal counsel was King & Wood Mallesons.
Deal significance: The 850MW Millmerran Power Station is based in Queensland.
"The successful re-financing of Millmerran Power Station follows the successful financing of Callide C Power Station refinancing,” said White & Case partner Brendan Quinn, head of project finance Asia-Pacific.
“The financing of both these assets — together with the recent financing of Alinta’s acquisition of Loy Yang B Power Station on which White & Case acted for the financiers — demonstrates that there remains good liquidity in the bank debt market for the right thermal power assets in Australia.”
