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Allens tops tables amid Aussie project finance boom

13 January 2012

The Australian project finance market is geared for a positive 2012 after recording a 90 per cent increase in deal volume, to more than US$36.8 billion, in 2011.

The Dealogic Full Year 2011 League tables show Australia ranked second globally, behind India, for the world's largest deal volume.

Within the region, Allens Arthur Robinson (Allens) topped the legal advisers league table in the Australasian finance loans category for the eighth year in a row, recording 29.3 per cent market share for project finance loans advice.

The firm also ranked second (behind Indian firm Amarchand) in the wider Asia Pacific region, having completed 45 major project finance deals worth a total apportioned value of about US$10.5 billion.

Such deals included high profile, award-winning projects such as the new Royal Adelaide Hospital PPP (one of Australia's largest-ever PPPs); the Wiggins Island Coal Export Terminal financing (one of Australia's largest greenfields project financings); the Macarthur Wind Farm Project (the Southern Hemisphere's largest wind farm transaction and the renewables sector 'Deal of the year'); and Vietnam's Muong Duong 2 thermal power plant (the power industry's 'Deal of the year').

Allens Partner Phillip Cornwell said Australia is in the box seat to capitalise on increased global market activity for project finance work due to its robust economy, stable political environment and abundant natural resources.

'The signs are promising for the project finance market in this region, despite the European clouds constraining bank liquidity,' Mr Cornwell said.

'A number of mega LNG projects have already attracted tremendous interest from banks and export credit agencies, and other major resources and infrastructure deals will come to the market shortly.'

Allens has secured key roles on many of these transactions in the busy Asia Pacific market.

'The 2011 results show that the firm is performing well within the sector and that's testament to the strength and depth of our Project Finance practice group,' Mr Cornwell said.

'Our status as a market leader in international project finance is a result of our significant sector experience and the expertise and breadth of our team throughout the Asia Pacific region.'

Ends

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Notes for editors.

Allens Arthur Robinson has staff in 14 cities and eight countries across the Asia Pacific.