Allens

Experience

Recent project finance work includes:

Melbourne Metro Project
Advised the financiers to the Cross Yarra Partnership on the successful close of the Metro Tunnel Package and related packages of the $11 billion Melbourne Metro Project.

Victoria International Container Terminal Limited
With Linklaters, acted as the legal adviser to VICT as borrower, and International Container Terminal Services Inc. (ICTSI) as sponsor, on an export credit agency-covered syndicated loan facility for the on-going construction and development of Webb Dock at the Port of Melbourne, Australia.

Carnegie Wave Energy Limited
Acted for Australian wave energy technology developer Carnegie Wave Energy Limited in the company's signing of a $20 million loan facility with the Clean Energy Finance Corporation.

Gullen Range wind farm
Acted for the sponsors, Goldwind, on the A$247 million five-year project financing of the Gullen Range wind farm.

Coal Project financing
Advised leading institutional investor EIG Global Energy Partners on the provision of a US$350 million senior secured debt facility to Coalspur. It will fund the majority of Stage 1 of the Vista Coal Project in Calgary, Canada.

Macarthur wind farm
Acted for Meridian Energy, New Zealand's largest renewable electricity generator, on the project financing and development of the A$1 billion 420MW wind farm developed in joint venture with AGL.

Sydney Desalination Plant
Advised Sydney Desalination Plant Pty Ltd (SDP), and its related entities, on the refinancing of its syndicated debt facilities. This follows our work advising the consortium including the Ontario Teachers' Pension Plan Board, Hastings Managed Infrastructure Funds Utilities Trust of Australia and The Infrastructure Fund (together, the Consortium) on a binding offer to refinance the Sydney Desalination Plant for $2.3 billion in 2012. This deal was awarded Project Finance International's 'Asia Pacific Infrastructure Deal of the Year 2012'.

Brookfield Rail
Acted for the financiers on the A$1.3 billion refinancing for Brookfield Rail. The refinancing was split between a $600m syndicated facility agreement and a $700m US private placement.

ANZ
Advised ANZ on its commitment to provide a $16.5 million senior secured loan to Eureka Funds Management Limited, as trustee of The Australian Environmental Upgrade Fund No. 2. The EUA is Australia's largest ever, and will enable the installation of a 2 MW trigeneration plant at the $2 billion Central Park project in Sydney.

Ichthys Project
Advised the sponsors, led by INPEX Corporation and Total, on the record US$20 billion project financing for the US$34 billion Ichthys Project. This deal was awarded Project Finance International's 'Asia Pacific Deal of the Year 2012' and the 'Energy & Resources Deal of the Year' and 'Project Finance Deal of the Year' at the 2013 Australasian Legal Business Law Awards.

Sydney Airport
Acted in connection with the $1.1 billion refinancing for Sydney Airport's maturing senior debt, including acting for a syndicate of 10 major domestic and international lenders on a $300 million new senior facility.

Australia Pacific LNG Project
Acted as Australian counsel to a syndicate of 17 local and international lenders on the provision of US$8.5 billion of project financing for the Australia Pacific LNG Project. This deal was awarded Project Finance International's 'Asia Pacific Oil & Gas Deal of the Year 2012'

Northern Territory Secure Facilities Project (PPP)
Advised a consortium of banks on the financing of A$565 million Northern Territory Secure Facilities PPP Project (Doug Owston Correctional Centre), which involves the construction of a low- to maximum-security correctional centre and mental health centre at a greenfield site near Darwin.

New Royal Adelaide Hospital (PPP)
Advised the financiers to the successful SA Health Partnership Consortium on the A$2 billion plus New Royal Adelaide Hospital public-private partnership PPP.

Gold Coast Rapid Transit Project (PPP)
Advised Plenary Group and its GoldlinQ Consortium partners on its A$1 billion bid to finance, design, build, operate and maintain the Gold Coast Rapid Transit PPP, one of Australia's first public transport PPPs.

Single LEAP Project (Phase 2)
Advised Plenary Group on its contractual and financial arrangements for Phase 2 of the Department of Defence's A$900 million Single LEAP Project, a PPP project to deliver Defence Force accommodation at 14 military bases across Australia.

Gunning Wind Farm
Advised ACCIONA, the world's largest independent (non-utility) renewable energy developer and owner, on the development of the A$147 million Gunning Wind Farm. The 46.5 MW wind farm, located in New South Wales' Southern Tablelands, is ACCIONA's 278th in the world and will deliver enough renewable energy to power 23,250 homes.

Mumbida Wind Farm
Advised the financiers, agent and security trustee of the A$250 million Mumbida Wind Farm Project, a joint venture between Verve Energy and Macquarie Capital Group Limited.

OneSteel
Advised OneSteel Limited on its acquisition of WPG Resources Limited's iron ore assets for about $350 million.

Wiggins Island Coal Export Terminal
Advised the senior syndicate and mezzanine financiers on the financing of Queensland's first user-funded coal terminal, the Wiggins Island Coal Export Terminal (WICET).

Meridian Energy Ltd
Advised New Zealand's largest renewable electricity generator, Meridian Energy Ltd, on the project financing of its share of development and construction costs of the $1 billion wind farm joint venture with Australia's largest renewable electricity generator, AGL.

Alinta Energy (formerly Babcock & Brown Power)
Acted for the syndicate of banks in a A$2.8 billion deal, negotiating a complex restructure of the facility arrangements of Alinta Energy and subsequent financing and sale. The deal won 'Project Debt Market Deal of the Year' at the 2010 ALB Awards. In early 2008, Allens advised BBP Finance on the original A$2.7 billion multi-currency term and revolving syndicated facility, which followed on from advice to the mandated lead arrangers on a A$2.099 billion finance package for subsidiaries of Babcock & Brown Power and Babcock & Brown Infrastructure for the approximately A$8.1 billion acquisition of Alinta. Allens continues to advise in relation to the negotiated lender-led deleveraging solution for Alinta Energy.

Collgar Wind Farm, WA
Advised the financiers, in a financing that survived the GFC, on facility and security arrangements to fund the development, construction, and operation of the A$750 million Collgar Wind Farm.

Waubra Wind Farm, Victoria
 Advised ACCIONA on the A$340 million project financing by eight banks of the Waubra Wind Farm. The 192MW Waubra Wind Farm is the largest renewable power project in the Southern Hemisphere to date.

Energy Infrastructure syndicated acquisition facility
Acted for the lenders and hedge providers on the A$703 million acquisition financing of a number of completed and partially competed energy infrastructure assets being divested by APA Group into a new unlisted energy infrastructure fund. The deal won Project Finance Deal of the Year at the 2008 ALB Awards.

SEQ Schools, Queensland
Advised the National Australia Bank in its role as private sector project financier of the South East Queensland Schools Public Private Partnership. The project involved the first use of the 'Supported Debt Model'. The deal won Project Finance magazine's Asia Pacific Project Finance PPP Deal of the Year for 2009.

Worsley multi-fuel cogen project, WA
Advised the borrowers and sponsors of a A$880 million project financing facility to fund the construction and operation of a multi-fuel cogen power project in Worsley. The deal closed in late 2008 in the midst of the worsening global financial crisis.

Newcastle coal terminal, NSW
Advised the financiers of the A$1.55 billion financing of the development of a coal loading and port facility in Newcastle, (Project Finance International 'Asia Pacific Infrastructure Deal of the Year', 2008) and on the A$3.2 billion expansion of that facility.

Advised ANZ and the senior financiers on the US$1 billion financing for the final stage (Stage 2F) of the third coal export terminal at the Port of Newcastle. This deal was awarded CFO Magazine's 'Project Finance Deal of the Year' 2011. This deal provides a continuation of Allens' work with NCIG and ANZ in Stage 1 and Stage 2AA of the coal export terminal.

Montara project
Advised TCW Asset Management on a US$140 million (subsequently increased to US$200 million) secured subordinated note facility provided to Coogee Resources to enable it to restructure its existing subordinated debt and provide additional funding for the Montara offshore oil project.

Royal Children's Hospital, Melbourne
Advised Babcock & Brown on the finance and equity aspects of its role as the sponsor of the consortium for the A$1.452 billion Royal Children's Hospital PPP. Allens also advised BNY Trust as the security trustee, bond trustee, guarantee trustee, agent and registrar to the project.

Bluewaters power station, WA
Advised the sponsors, Griffin Group, on the A$1.8 billion financing of the Bluewaters 1 & 2 Power Stations. This deal was awarded PFI's 'Australian Deal of the Year'.

Phu Kham copper and gold project, Laos
Advised the financiers to Phu Bia Mining Limited on the A$113.1 million project financing of the Phu Kham copper-gold mine. Prior to this, we advised the senior lenders, Australia and New Zealand Banking Group Limited, on the US$207 million development of the Phu Bia gold heap leach project and the Phu Kham copper and gold project.

Dampier to Bunbury Natural Gas Pipeline (DBNGP)
Acted for DBNGP Finance, as dealers in the note program and senior financiers in the senior debt facilities, in the A$1.23 billion DBNGP refinancing. This followed our acting for the Macquarie Bank-led Alinta/Alcoa/DUET consortium on the A$1.8 billion acquisition. Allens recently advised the financiers on a A$550 million fixed and floating-rate note issue by DBNGP Finance.

Loy Yang A power station, Victoria
Advised the 10 lead arrangers on the refinancing and syndication of Loy Yang A's A$2.36 billion senior debt. This was awarded 'Project Finance Deal of the Year' by FinanceAsia. This follows our role advising the vendors on the A$3.48 billion sale, the restructuring financing arrangements worth A$2.65 billion as an essential precondition, and on ACCC issues. In addition, we advised on the refinancing of Loy Yang A's A$455 million bullet tranche of its senior debt.

Biosciences PPP, Victoria
Advised the Plenary Research Consortium on the A$230 million Biosciences Research Centre Project, completed in the midst of the GFC.

Transurban tollroad refinancings
Advised Transurban's financiers on the $260 million refinancing of the Lane Cove Tunnel. Allens also advised Transurban's financiers on the successful acquisition of the Lane Cove Tunnel in 2010, having also acted for the financial guarantor and receivers to the Tunnel Group. We have also acted for the financiers to a number of Transurban's tollroad refinancings in 2009 and 2010, including the A$525 million refinance of Sydney's M5 South West Motorway, the A$515 refinancing of Sydney's M1 Eastern Distributor, the A$465 million refinancing of Sydney's Hills M2 Motorway, the current refinancing of Sydney's M7 and widening of the M2.

PPP bids
Advised a number of bidding consortia or financiers to bidding consortia on the Gold Coast Rapid Transit PPP, Royal Adelaide Hospital PPP, Victoria's Parkville Comprehensive Cancer Centre PPP, Victoria's Ararat Prisons PPP, Western Australia's Mundaring Water Treatment Plant PPP, Sydney CBD Metro, Western Australia's Princess Margaret Hospital PPP and WA Schools PPP, just to name a few.