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ISP nets refinance

ISP nets refinance

Middletons and King & Wood Mallesons have acted on the refinance of internet service provider iiNet.

Firms: Middletons (iiNet), King & Wood Mallesons (syndicate of banks)

Deal: Refinancing of internet service provider iiNet.

Area: Corporate

Value: $330 million

Key players: The KWM team was led by partner Nicholas Creed (pictured) who was supported by senior associates Cameron Roper and Edmund Chan and solicitors Crystal Chan and Andrew Lane.

Deal significance: The new $330 million syndicated debt facility provided by Westpac Banking Corporation, Australia and New Zealand Banking Group Limited, Commonwealth Bank of Australia and National Australia Bank Limited consists of a $247.5 million 3 year tranche and an $82.5 million 4 year tranche which replaces the iiNet’s previous club facility.

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