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Cooper Energy establishes $420m loan facility
Australian energy company Cooper Energy has been advised on a funding package for its new $420 million loan facility.
Lauren Croft
Firm: Gilbert + Tobin (Cooper Energy Limited)
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Deal: Gilbert + Tobin has advised Cooper Energy Limited on funding for a new $420 million syndicated reserve-based loan facility.
Value: $420 million
Area: Banking and projects
Key players: The G+T team was led by banking and projects partner Simon Lynch, with support from lawyers Nick Cerche and Christian Smolders.
Deal significance: As part of a duo of recent capital transactions in connection with Cooper Energy’s acquisition of the Orbost Gas Processing Plant from APA Group, including a $244 million equity raising, the new debt facilities will provide Cooper Energy with a flexible funding package as it looks to fund future growth.
Commenting on the deal, G+T stated: “It was a pleasure advising our long-time client Cooper Energy on this significant transaction — one which plays an integral part in the company’s next phase of growth following the acquisition of the Orbost Gas Processing Plant. Completion of the equity raising, acquisition and financing in quick succession is a great achievement for Cooper Energy, and we were delighted to have supported them on this milestone deal.”
Grant Samuel was the financial adviser to the transaction. Allens acted for the syndicate of lenders.
