find the latest legal job
Corporate/Commercial Lawyers (2-5 years PAE)
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Specialist commercial law firm · Long-term career progression
View details
Graduate Lawyer / Up to 1.5 yr PAE Lawyer
Category: Personal Injury Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Mentoring Opportunity in Regional QLD · Personal Injury Law
View details
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Full time · Join a leading Adelaide commercial law firm
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Sydney NSW
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Melbourne VIC
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
Firms digs deep over mining project

Firms digs deep over mining project

Adkins-Nicholas

Three firms have acted in relation to the refinancing of a South Australian copper mine's operations.

Firm: Allens (Hillgrove Resources); Norton Rose Fulbright (Freepoint); Herbert Smith Freehills (MBL)

Deal: Hillgrove Resources Limited refinanced its debt, bonding and hedging facilities for the Kanmantoo copper mine.

Value: US$14 million pre-export facility loan (plus a US$6 million tranche subject to conditions), a deferral and extension of the existing price participation obligations under the offtake agreement, a A$20 million performance bond facility and associated commodity hedging facilities.

Area: Banking and finance

Key players: Partner Nicholas Adkins (pictured) led the Allens banking and finance team on the debt refinancing, assisted by senior overseas practitioner Sarah Glenn, associate Gabriela Wilson, associate Tom Tian and law graduate Melanie Hayden. Equity capital markets partner Julian Donnan and associate Shikha Sethi advised on the equity raising.

Jake Howard from NRF and Erin Wakelin from HSF were also involved in the deal. 

Deal significance:

The deal has seen Hillgrove secure the pre-export facility with Ventures Australia LLC, a subsidiary of Freepoint Commodities LLC (also the long-term offtaker for the Kanmantoo project), which is the first such loan by Freepoint in the local market.

Macquarie Bank Limited has provided the performance bonding facility, which will be used primarily for the environmental bonds necessary to support the Kanmantoo operation, and also provided all the initial commodity hedging.

“We are very pleased to have assisted Hillgrove with this complex and innovative refinancing and to have continued our long association with the company,” Mr Adkins said.

“The refinancing comprised funds from a variety of sources, each with its own unique features, and it was undertaken at what is obviously a challenging time in the resources cycle, so full credit to the team at Hillgrove for getting this over the line.”

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

Firms digs deep over mining project
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Jackie Rhodes
Dec 12 2017
Report sheds light on LGBTQI inclusion in law firms
A recent report has revealed the varying perceptions on LGBTQI diversity and inclusion in the Austra...
Women in business
Dec 12 2017
Annabel Crabb headlines Women in Business Forum
Political journalist Annabel Crabb has appeared at the Coleman Greig Lawyers Women in Business Forum...
Dec 11 2017
Warm welcome for new district court judges
Three practitioners who were appointed as district court judges in WA have been congratulated by ...
APPOINTMENTS
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'...
opinion
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...
Help
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 & ...