Allens onboard for Perth Airport restructure
3 November 2011
Allens Arthur Robinson (Allens) is advising nine major local and international banks on the syndicated and working capital debt portion of a $1.23 billion finance package for Perth Airport, which is owned by Perth Airports Development Group
Perth Airport has been experiencing significant growth recently, with passenger numbers in and out of the capital city steadily climbing, as the energy and resources boom continues in Western Australia.
The finance package, announced on 2 November, gives Perth Airport greater funding flexibility for planned and future developments at Perth's only international airport.
Partner Richard Gordon, who led the Allens team on the transaction, said that the package includes A$915 million in syndicated revolving facilities with four, six and seven-year terms. He said the deal also includes an A$15 million working capital facility and a bank facility of A$300 million, which will be used to backstop a future capital markets issue to fund capital expenditure through to 2015.
'This refinancing and restructure is an important step for Perth Airport that will open doors for new possibilities and the airport's planned A$750 million expansion,' Mr Gordon said.
'It was pleasing to work with the syndicate of banks to make this transaction possible.'
| Allens legal team | Richard Gordon (Partner - Sydney), Tim Stewart (Senior Associate - Sydney), Rita Pang (Lawyer - Sydney), James Greenwood (Lawyer - Sydney), Morgan Phelan (Lawyer - Sydney) |
Ends
For further information, please contact:
- Susan CowenCorporate Affairs Adviser,
Melbourne
Ph: +61 3 9613 8374
Susan.Cowen@allens.com.au
Notes for editors.
Allens Arthur Robinson has staff in 14 cities and eight countries across the Asia Pacific.