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A key landmark in IBOR transition
Insight 23 Oct 2020

The long-awaited ISDA IBOR Fallbacks Supplement and Protocol will be going live today with the endorsement of ASIC, the RBA and APRA. They implement new benchmark fallbacks for both future and existing derivative contracts, facilitating the efficient transition from LIBOR and other IBORs in anticipation of their discontinuation. If you have a derivatives portfolio, the Protocol allows quick and easy adoption of the new fallbacks through a one-off adherence. That said, it may not be sufficient to cover all scenarios. ...

Allens advises Bendigo Bank on alliance with Tyro
News 22 Oct 2020

The alliance will see Tyro become the Bank's exclusive merchant acquiring partner for business customers for an initial 10-year term, with Bendigo Bank to exclusively refer its current and future ...

Allens tops syndicated loans rankings for Q3 2020
News 13 Oct 2020

Having advised borrowers on approximately US$13.1 billion and lenders on approximately US$9.3 billion in syndicated loans in Australia, and borrowers on approximately US$13.4 billion in the Asia ...

Insolvency reforms to support small business
Insight 24 Sep 2020

The Commonwealth government announced a package of reforms directed at streamlining insolvency processes for small business. Our analysis on the issue from our insolvency and restructuring experts. ...

Officer without office: High Court rules persons can be company officers despite absence of official title
Insight 10 Jun 2020

The recent decision of the High Court of Australia in ASIC v King considers the meaning and scope of the term 'officer', as defined in s9 of the Corporations Act 2001 (Cth), and contains important if non-binding observations on how the term may catch bankers and other third parties. ...

Allens advises Vocus on A$1.225bn and NZ$135m debt refinancing
News 09 Jun 2020

The new facilities, which carry a weighted average tenor of 3.5 years, will extend the duration of Vocus' debt to provide ongoing financial stability and flexibility. Vocus is a leading specialist ...

Retail banking and responsible lending during COVID-19
Insight 01 Jun 2020

The sudden and unknown nature of COVID-19 has triggered a global economic shock, and disrupted Australia's economy. As we enter a national state of economic 'hibernation', banks and lenders are grappling with a sudden influx of relief requests from consumer and business customers. ...

Allens advises on Hills M2 Motorway $815m refinancing
News 08 Apr 2020

Allens advised a lender sydicate of 20+ financiers on the $815m refinancing of the Hills M2 Motorway. The Hills M2 owned by Transurban is a 21km road linking Sydney's lower north shore and north west. ...

Impact of COVID-19 on investment funds
Insight 31 Mar 2020

As the COVID-19 pandemic creates turbulence in global financial markets and propels investors into a race for liquidity, we are beginning to see investment funds grappling with some of the issues they had confronted in 2007–2009 during the global financial crisis (the GFC). ...

Impact of COVID-19 on derivatives
Insight 27 Mar 2020

COVID-19 will have a range of impacts on over-the-counter derivative transactions. We set out below some key documentation issues arising as a consequence of COVID-19 and our practical tips. ...

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