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Allens advises senior financiers on Ventura Bus Company refinancing

7 May 2018

Allens has advised a syndicate of senior lenders on the refinancing of Ventura Bus Company's existing debt facilities, which included senior debt, mezzanine debt and third ranking notes.

The refinancing follows Ventura's entry into a series of new bus services contracts with Public Transport Victoria.

Ventura is Victoria's largest bus company, and operates a fleet of 860 buses across metropolitan Melbourne and the Mornington Peninsula. The new contracts with Public Transport Victoria will begin on 1 July.

Allens' Banking & Finance and Projects teams worked together to advise on all aspects of the refinancing, including debt and project documents.

'We are delighted to have worked with the senior financiers and Ventura Bus Company to facilitate the next step in this iconic Victorian company's journey,' said Warwick Newell (view CV), lead Partner on the matter.

The Ventura contracts are among the first of the new bus services contracts under negotiation between Public Transport Victoria and metropolitan bus operators in Melbourne.

This work builds on Allens' extensive recent experience on transactions involving the Victorian Government, including the $11 billion Melbourne Metro Project, the refranchising of the Melbourne metropolitan train and tram networks and the innovative financing arrangement for the $1.8 billion Western Roads Upgrade public-private partnership.

Allens legal team Warwick Newell (Lead Partner), David Donnelly (Partner), Alex Tonkin (Senior Overseas Practitioner), Houston Ash (Associate) and Hamish McCormack (Associate)

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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.