About Ben Farnsworth
Ben is a banking and finance expert, and Practice Director of Allens' Perth office. He advises borrowers and financiers on complex project, corporate and structured finance transactions. He has advised on transactions in a wide range of sectors including mining, power, oil and gas and economic infrastructure.
His recent experience spans senior debt, mezzanine, convertible debt and royalty and streaming financings.
Ben has been recognised as a leading Australian project finance lawyer by Who's Who Legal Project Finance since 2016 to date and has authored numerous publications on project financing, including International Comparative Legal Guide's Project Finance Australia chapter.
He is admitted to practice in Western Australia, England and Wales.
Recent experience
Mining
- Minerals 260: on its strategy funding agreement with Franco-Nevada Corporation, including $170m royalty funding, the largest investment by Franco-Nevada into Australia
- Iluka Resources: Iluka Resources in relation to its funding arrangement with Export Finance Australia to fund its Eneabba Rare Earth Refinery Project, the largest funding commitment from the Australian Government's Critical Minerals Facility
- BCI Minerals: the lenders on the project financing for BCI Mineral's Mardie Salt Project
- Fortescue Metals Group: the lenders on FMG’s term loan and revolving facilities, including FMG's RMB14.2bn (approx. US$2bn) facility, which Fortescue has stated is the first RMB-syndicated term loan of its kind by an Australian corporate
- Gold Fields: on its syndicated facility to fund the acquisition of Gold Road Resources
- Northern Star Resources: the lenders on Northern Star's bank facilities
- Mineral Resources: the bank syndicate on MinRes' bank facilities.
Metal streaming
- Triple Flag Precious Metals: on its US$550m streaming transaction with China Molybdenum for the Northparkes copper-gold mine in New South Wales
- Lascaux Resources Capital Fund: on its metal prepay arrangements in relation to Salt Lake Mining's nickel operation in Western Australia
- SilverStream SEZC: on gold streaming arrangements with BK Gold Mines in respect of the British King Gold Project in Western Australia
- Quintana Minerals: on metals purchase arrangements with KBL Mining Limited for the Mineral Hill mine
- Triple Flag Precious Metals: on its metal prepay arrangements in relation to Diversified Minerals' Dargues gold mine in New South Wales.
Energy
- NewGen Power Kwinana: the sponsors on the refinancing of the Kwinana gas fired power station in Western Australia
- Ichthys LNG: Inpex and TOTAL on the US$20bn project financing for the Ichthys LNG project (Asia-Pacific Deal of the Year (PFI)). Participants included JBIC, NEXI, KEXIM, K-sure, EFIC, Atradius, Hermes and Coface
- Australia Pacific LNG: advising US-Exim and CEXIM and bank lenders to $8.5bn Australia Pacific LNG Project financing (Oil & Gas Deal of the Year (PFI))
- Zenith Energy: on its debt facilities to support new remote generation projects.
Other
- Perth Airport: the lenders on its syndicated facilities
- Global Infrastructure Partners:on the $6bn Perdaman urea plant in Western Australia
- Perenti: the lenders on its syndicated facilities
- Imdex: in relation to its acquisition facility for the acquisition of the Devico business
- Macmahon: the lenders on its syndicated facilities
- BWP Trust: on its bank facilities
- St John of God: advising the lenders on its corporate facilities.
PPPs
- Australian PPP transactions: WA Schools PPP;New Perth Stadium PPP Project (bid); SunshineCoast University Hospital PPP; New Royal Adelaide Hospital PPP; Gold Coast Rapid Transit PPP (bid); Wiri Prison PPP (bid); NT Prison PPP; Reliance Rail Project; and RiverCity Motorway's Clem 7 Tunnel PPP
- Offshore PPP transactions: E18 Road Project in Norway; MOD Northwood HQ PPP Project in UK and Golden Ears Bridge Project in Canada.