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Queensland train project sees ‘green’ refinancing
International law firm Allens has advised on the refinancing of Queensland’s New Generation Rollingstock train project.
Emma Musgrave
Firm: Allens (Qtectic).
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.
“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.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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