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Bakers advises on Emeco debt shake-up
Baker & McKenzie has advised Emeco Holdings Limited on the company's successful $450 million debt refinancing facility which was finalised on 19 November 2010.Emeco is an ASX-listed earth…
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Baker & McKenzie has advised Emeco Holdings Limited on the company's successful $450 million debt refinancing facility which was finalised on 19 November 2010.
The refinancing will replace the Group's existing $595 million debt facility which was due to mature in August 2011. The new facility comprises a banking syndicate of seven domestic and international banks, including Westpac, ANZ, BOS International and Commonwealth Bank.
The transaction was led by Sydney-based banking & finance partner Bryan Paisley with assistance from fellow partner Howard Fraser.
Commenting on the deal, Paisley said: "The five-year tranche demonstrates that there is an appetite for longer-dated corporate bank debt and this is a healthy sign."
Allens Arthur Robinson advised the banking syndicate.