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Freehills secures top outcome for development giant

Freehills secures top outcome for development giant

Freehills has advised Lend Lease on its recently finalised $975 million unsecured syndicated loan facility. Lend Lease initially targeted an amount of $750 million, but following strong support…

Freehills has advised Lend Lease on its recently finalised $975 million unsecured syndicated loan facility. Lend Lease initially targeted an amount of $750 million, but following strong support from its lenders this was increased to $975 million.

The Freehills team was led by senior banking partner Justin Pelly, supported by senior associates Adam Jeffrey and Henry Shatwell. Freehills worked closely with Lend Lease's Group Treasurer Paul Macfarlane.

Working alongside Freehills throughout the documentation process, Lend Lease was able to successfully maintain a consistent approach in relation to its existing financial covenants.

Freehills spearheaded the detailed term sheet negotiation process during the initial stages of the transaction, resulting in a streamlined documentation process with the wider lender group and execution of the final documents within Lend Lease's required timeframe.

Partner Justin Pelly, who has worked with Lend Lease Treasury for many years, said: "This is another excellent result for Lend Lease, and one that is sure to provide Lend Lease with additional flexibility and capacity going forward".

This transaction comes at the end of a busy financial year for Justin Pelly in the syndicated loan market, having acted on several large scale syndications totalling over $5 billion.

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