Recent project finance work includes:
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.
Woodland Wind Farm
Advised Westpac Institutional Bank on the project financing of Infigen Energy's
Woodlawn Wind Farm near Bungendore in New South Wales.
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
successful acquisition of the Lane Cove Tunnel 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.
