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Allens and KWM advise on $7bn raising

Allens and KWM advise on $7bn raising

Allens and KWM have acted on one of the largest individual corporate refinancings to have occurred in the Australian market.

Firms: Allens (Origin Energy); King & Wood Mallesons (lenders)

Deal: Origin raised more than $7 billion in funds to refinance its existing loan facilities and for general corporate purposes of the Origin Group

Area: Corporate finance

Value: $7 billion

Key players: Partner Alan Maxton (pictured) led the transaction for Allens, with assistance from partner Diccon Loxton; senior associates Caleb Chua and Jo Folan, and lawyer Suma Tekkatte

Deal significance: This deal, which took less than three weeks to complete, is one of the largest individual corporate refinancings to have occurred in the Australian market. Allens’ lead partner, Alan Maxton, said that the transaction was very significant for Origin, not only in terms of its size, but because it involved updating Origin’s standard banking terms to reflect the current scope and size of its business. “The refinancing also provides the company with financing flexibility for the future,” Maxton said. “It is a good time for corporate borrowers, such as Origin, to take advantage of favourable market conditions and strong support from domestic and international financial institutions.”

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