NEWS

Allens advises on Ravenhall Prison Project refinancing

By David Donnelly
Banking Financial Services Royal Commission Infrastructure

Allens has advised The GEO Consortium on their successful refinancing of the Ravenhall Prison Public-Private Partnership (PPP), by way of a long-term US Private Placement.

The Ravenhall Prison Project was designed and built and is being maintained and operated by the GEO Consortium under a public private partnership arrangement involving The GEO Group Australia, Capella Capital, GEO Care, Honeywell, John Holland and Forensicare, among others.

Allens has advised the GEO Consortium throughout the lifecycle of the Project, since the original bid for the development of the asset in 2013.

Work on the original transaction saw Allens recognised at the 2014 and 2018 Infrastructure Partnerships Australia Awards, winning the 'Advisory Excellence' and 'Project of the Year' categories, respectively.

'While the transaction continues a trend for operating PPP projects accessing the US private placement market for longer term debt funding, it's the first custodial prison in Australia to access that market,' said Partner and Head of Project Finance, Michael Ryan.

'The Ravenhall Prison Project is a great example of our team's ability to service our clients as their needs evolve over the entire life of a project,' added Partner and Head of Infrastructure, David Donnelly.

'We've been there from Day 1 – through the bid, construction and commissioning phases and now as the project transitions to steady a state of operation with an accompanying long-term debt solution,' David concluded.

Allens legal team

David Donnelly (Partner), Michael Ryan (Partner), Matthew Meyerink (Managing Associate) and Ben van Weel (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.