find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Real Estate & Projects Lawyer (6+ years PAE)
Category: Property Law | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Top tier firm with offices nationally · High profile clients
View details
Ashurst and Corrs act on $186m property raising

Ashurst and Corrs act on $186m property raising

Essendon Airport has refinanced and paid of its debts with the help of Ashurst and Corrs Chambers Westgarth.

Firms: Ashurst (lenders and BOSI); Corrs Chambers Westgarth (Essendon Airport Pty Ltd)

Deal: Property raising

Area: Property

Value: $186 million

Key players: Ashurst’s Martin Coleman acted for the lenders and Jock O'Shea for BOSI

Deal significance: EAPL was seeking to refinance the $150 million facility provided by BOSI ahead of its December maturity date. The lenders are providing EAPL with facilities totalling $186 million. In addition to the $150 million Facility A, which has been used to repay the existing BOSI debt, term facilities totalling $24 million have been provided to finance existing and future projects, as well as a $12 million revolving credit facility which may be utilised by cash advances or bank guarantees.

Whilst the facility agreement is entitled a ‘Syndicated Facility Agreement’, under that agreement each lender provides a separate facility (albeit the term facilities must be drawn pro rata) and separate pricing has been established with each lender bilaterally, making this a club deal. The facilities are secured by a comprehensive security package granted by entities in the Essendon Airport group. Coleman said: "This is an important financing transaction in this market, which was made possible by the Commonwealth Government's support of infrastructure assets."


Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Ashurst and Corrs act on $186m property raising
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Aug 21 2017
Is your firm on the right track for gig economy gains?
Promoted by Crowd & Co. The way we do business, where we work, how we engage with workers, ev...
Scales of Justice, Victorian County Court, retiring judges
Aug 21 2017
Replacements named for retired Vic judges
Two new judicial officers have been appointed in the Victorian County Court, following the retire...
Aug 21 2017
LCA applauds proposed Modern Slavery Act
The Law Council of Australia has welcomed new recommendations for the development of a Modern Slaver...
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...