NEWS

Allens advises China Construction Bank on Pacific Hydro acquisition financing

By Renee Boundy
Asia Banking Financial Services Royal Commission

Allens has advised China Construction Bank Corporation, Sydney Branch on two syndicated facilities of approximately A$1 billion and US$1.7 billion to fund the acquisition of Pacific Hydro and other things.

China Construction Bank, Sydney Branch was Arranger and Agent for two syndicates of international banks.

Approximately A$1 million and US$950 million facilities were provided by a three bank syndicate and US$750 million facility by a five bank syndicate.

Lead Partner Renee Boundy said the financings were 'strategically important to enable the buyer to fund renewable and clean energy projects across the region and in South America'.

The financing was led by China Construction Bank, Sydney Branch and involved a number of other leading global banks.

'China Construction Bank's role in this deal, and other recent transactions like its acquisition of the RBS Australian commercial loan portfolio last year, reflect the bank's commitment to growing its Australian business and supporting domestic and Chinese investment in Australia.

'We are delighted to partner with China Construction Bank and these other banks to execute these deals,' Renee said.

Allens legal team

Renee Boundy, Lead Partner; Nick Adkins, Partner; Scott McCoy, Managing Associate; Thomas McAuliffe, Managing Associate; Yu Zhang, Senior Associate; and Steven Faulkner, Associate.

Ends

Notes for editors.

Allens is a commercial law firm working throughout Australia and Asia. Through its integrated alliance with Linklaters it provides clients access to 40 offices in 28 countries around the world.