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Japanese banks fund $155m debt facility (1)

Japanese banks fund $155m debt facility (1)

King & Wood Mallesons and Allens have acted on a seven-year bank debt facility for DBP Group.

Firms: King & Wood Mallesons (DBP Group); Allens (banks)

Deal: Seven-year bank debt facility, provided by a syndicate of Japanese banks

Area: Finance

Value: $155 million

Key players: The KWM team was led by banking and finance partner Nicholas Creed (pictured), who was supported by senior associate Nicole Ho and solicitor Natalie Scoones.

Deal significance: The funds raised will be used to repay part of the DBP Group’s $325 million of floating-rate notes, which will mature in April 2013. The DBP group of entities purchased the Dampier to Bunbury Natural Gas Pipeline in October 2004.  It is majority owned by DUET Group (80%), with Alcoa as a minority owner (20%).

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