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Emerald Grain secures borrowing base facility agreement with 2 big banks
Emerald Grain has secured a $180 million borrowing base facility agreement with two major banks amid a leadership changeover.
Naomi Neilson
Firm: KCL Law (Emerald Grain)
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Deal: KCL Law’s banking and finance team has advised Emerald Grain and new shareholding consortium led by Roc Partners on the former’s entry into a $180 million borrowing base facility agreement with Commonwealth Bank of Australia (CBA) and Westpac Banking Corporation.
Value: $180 million.
Area: Banking and finance.
Key players: The transaction was led by special counsel Trent Chugg with assistance from lawyers Sophie Boyd and Chantelle Alberico.
Deal significance: The transaction involved a number of complexities and coincided with a change of ownership for the Emerald Grain group, with shareholding consortium led by Roc Partners acquiring control.
Mr Chugg commented: “We were delighted to advise Emerald Grain and Roc Partners in connection with such an important transaction for the group and we look forward to seeing the group’s continued success under the new ownership structure.”
Kain Lawyers advised Roc Partners in connection with the share sale transaction and lenders were advised by Ashurst.
