Allens acts for lenders on the refinancing of the Hills M2 and M1 Eastern Distributor motorways
20 July 2009
Allens Arthur Robinson (Allens) has acted for the lenders in two of the Transurban Group's major tollroad refinancing transactions in recent months.
The transactions relate to Sydney's M1 Eastern Distributor (M1) and Hills M2 motorways (M2), with a refinancing value of A$515 million and A$465 million, respectively.
Allens' Melbourne based team advised both the new M1 lenders – comprising ANZ, Commonwealth Bank of Australia, Westpac, Calyon, Mizuho and The Bank of Tokyo Mitsubishi UFJ – and the new M2 lenders – comprising the Commonwealth Bank of Australia, Westpac, NAB, Calyon and The Royal Bank of Scotland. Allens' Sydney based team advised the existing M1 and M2 lenders.
The Melbourne based team was headed up by Partner Simon Lynch alongside Senior Associate Michael Ryan. Lawyers Ross Schloeffel and Lynne Sutton also assisted. Tax Partners Martin Fry and Adrian Chek advised the new lenders on tax and stamp duty issues respectively. The Sydney based team was led by Partner Phillip Cornwell.
According to Mr Lynch: 'These transactions went very smoothly which, in light of current conditions in the credit markets, is a notable achievement'.
Transurban Group is a tollroad owner-operator with interests in Australia and the US.
Ends
| Allens legal team | Simon Lynch (Partner – Melbourne), Phillip Cornwell (Partner – Sydney), Martin Fry (Partner – Melbourne), Adrian Chek (Partner – Sydney), Michael Ryan (Senior Associate - Melbourne), Ross Schloeffel (Lawyer - Melbourne), Lynne Sutton (Lawyer - Melbourne) |
For further information, please contact:
- Jane FoleyCorporate Communications Coordinator,
Melbourne
Ph: +61 3 9613 8503
Jane.Foley@aar.com.au
Notes for editors.
Allens Arthur Robinson has staff in 14 cities and eight countries across the Asia Pacific.
