Extending its run of mining sector mandates, Allens has advised Aurelia Metals Limited on its A$150 million senior secured financing package.
The financing comprises a A$110 million rehabilitation bonding facility and a A$40 million revolving credit facility, refinancing Aurelia's existing debt and bonding facilities and providing additional funding capacity.
Allens supported Aurelia throughout the refinancing process, including on the negotiation of the term sheet, facility and ISDA documentation and satisfaction of conditions to financial close.
Lead partner Karla Fraser said the transaction reflects the strong appetite of global financial institutions to support growth in the Australian resources sector.
'Institutional appetite for Australian mining credit is returning, but it is returning in a more disciplined way,' Karla said.
'The sector is being supported by powerful macro themes – including demand for critical minerals, energy transition goals, and secure supply chains – alongside a more-developed sustainable finance taxonomy.
'We are delighted to have again supported Aurelia with their financing arrangements, which will strengthen Aurelia's balance sheet and liquidity, and facilitate the realisation of its growth strategies.'
Allens has been involved in a wide array of financing solutions for mining companies in the past 12 months, from streaming and royalties to structured asset finance and traditional debt. The Aurelia refinancing transaction follows recent work for Triple Flag, Develop Global and Minerals 260.
Allens legal team
Finance, Banking & Debt Capital
Karla Fraser (Partner), Flynn O'Byrne-Inglis (Senior Associate), Ethan Bischa (Lawyer)