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
AAR joins others on coal deal

AAR joins others on coal deal

ALLENS ARTHUR Robinson was the legal adviser for financiers to the Newcastle Coal Infrastructure Group in the financing of a Newcastle project.The firm advised the senior and junior lenders…

ALLENS ARTHUR Robinson was the legal adviser for financiers to the Newcastle Coal Infrastructure Group in the financing of a Newcastle project.

The firm advised the senior and junior lenders involved in the financing of the $1.55 billion coal loading and port facility project in Newcastle. Financing involved $1.3 billion senior debt and $250 million junior debt. Senior debt funding was provided by ANZ Bank, Dexia, KBC, Suncorp-Metway, DZ Bank, OCBC and SMBC. All banks were appointed equal mandated lead arrangers for the $1.2 billion senior term loan tranche.

Allens acted as legal adviser to the financiers of the project. The team comprised: partners Rob Watt, Phillip Cornwell, Thomas Miller, Ren Niemann and Tony Wassaf, as well as senior associates Claire Miles and Nick Adkins and lawyers Simran Sandhu and Elizabeth Lamaro.

Blake Dawson acted for the borrowers, while Clayton Utz acted for the borrowers on certain construction aspects.

Allens has a long-standing relationship with ANZ, which advised the Newcastle Coal Infrastructure Group. As a special purpose vehicle set up by the consortium, this was the first time Allens had worked with Newcastle Coal Infrastructure Group

The debt was funded through a variety of instruments, including a construction facility converting to term facility, cost-overrun facility, liquidity facility, working capital facility, letter of credit facility, and junior notes, the firm said.

“We are pleased to have worked on this transaction and to have dealt with the large number of equity parties involved in the project vehicle, all of whom are significant market participants in their own right. This project will go a long way towards solving the well-publicised capacity constraints at the Port of Newcastle,” said project leader, Rob Watt.

“The different layers of debt provided, including debt provided by some of the sponsors, gave rise to significant intercreditor issues,” Watt said. “These needed to be resolved in a relatively short time with the various parties to the project and the financiers.”

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

AAR joins others on coal deal
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
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 ...
Lawyers welcome same-sex marriage reform
Dec 11 2017
Lawyers welcome same-sex marriage reform
Australian lawyers have welcomed the recent legalisation of same-sex marriage, after a prolonged nat...
Senate disallows double standards for temporary visa holders
Dec 8 2017
Senate disallows double standards for temporary visa holders
Lawyers have welcomed the Senate’s rejection of regulations imposing strict penalties on temporary...
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 & ...