Allens has advised the mandated lead arrangers, underwriters and bookrunners on the $450 million refinancing of Bain Capital's portfolio company Velocity Frequent Flyer, which is Virgin Australia's loyalty program.
The refinancing sees Velocity Frequent Flyer receive investment from a large syndicate of investment banks, commercial banks and private credit funds from across the Asia-Pacific region.
'We congratulate all parties on this significant refinancing, which demonstrates the growing attractiveness of Australia for debt financing opportunities among Asia-Pacific banks and private credit funds,' said lead Partner David Couper.
The refinancing builds on Allens' extensive expertise in leveraged finance, with the firm having recently advised on the leveraged financing for EQT's acquisition of VetPartners and the leveraged financing for the Paine Swartz Partners-led consortium take-private of Costa Group Holdings.
Allens legal team
David Couper (Partner), Brian Kirkup (Senior Associate), Joseph Dwyer (Lawyer)