Allens has advised Gold Fields on refinancing its existing facilities with a $500 million syndicated credit facility agreement, with a $100 million accordion option.
The major refinancing includes sustainability-linked pricing adjustments based on Gold Field's achievement of key ESG priorities, including gender diversity, decarbonisation and water stewardship. It is one of the first sustainability-linked loan transactions in the Australian mining industry.
'This refinancing reflects increasing market demand for sustainability-linked financing from both borrowers and lenders seeking to deliver on key ESG objectives,' said Partner Ben Farnsworth.
'We are seeing increasing demand for these products and expect ESG considerations to be embedded into more lending transactions as Australia works towards its net zero goals.'
Allens assisted Gold Fields to align these refinancing facilities with Gold Field's sustainability-linked USD revolving credit facilities.
Allens legal team
Banking and Finance
Ben Farnsworth (Partner), Dean Rose (Senior Associate), Tania Joppich (Senior Associate), Michael Zeng (Associate), Megan Lee (Lawyer)