Freehills has advised ANZ in relation to an innovative $95 million export credit financing facility with Whitehaven Coal to finance the acquisition of a Bucyrus Longwall Mining System.
The facility was arranged by ANZ's export credit team led by Paul Richards, global head of structured export finance. The transaction involved Euler Hermes, the official export credit agency of Germany.
The Freehills team working with ANZ was led by partner John Angus and senior associate Fergus Smith.
Freehills partner John Angus said: "Export credit financing facilities are a viable and effective option for many Australian companies, particularly mining industry participants, and should be considered as part of a company's broader financing strategy".
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