Deal: Qtectic has been advised on the refinancing of the New Generation Rollingstock (NGR) train project through a certified green loan.

Value: Undisclosed.

Area: Finance.

Key players: The team advising Qtectic comprised Allens partners Scott McCoy and Nicholas Ng, senior associate Sunny Jong, associates Natalie Soh and Akaash Singh and law graduate Angela Lambros.

Deal significance: As per an Allens’ statement, as part of the refinancing Qtectic secured certification of the project’s debt facilities under the Asia-Pacific Loan Market Association’s Green Loan Principles and the Climate Bond Initiative’s Low Carbon Transport Criteria.

“The $4.4 billion New Generation Rollingstock project is the largest single investment in trains by the Queensland Government, involving the delivery of 75 six-carriage electric multiple units. Qtectic is responsible for the delivery of the train fleet and for its maintenance for 30 years under the PPP agreement,” the firm noted.

Allens’ lead partner Mr McCoy added: “We are pleased to have advised Qtectic on this important sustainability milestone for the NGR project, continuing our work together throughout the life of the project.

VIEW ALL

“There is growing appetite to formalise the sustainability credentials of project financing arrangements, and we expect to see more and more clients – and their stakeholders – requesting green loan certification.”