Debt Finance

 

Highly professional, diligent and practical in their approach.

Chambers Asia-Pacific

Our debt finance team is strategically positioned to focus on the finance needs of Australian corporate borrowers.

We are unique in having top tier finance capability without the constraints imposed through panel relationships with Australia’s major trading banks. While bank panel commitments can give rise to conflicts of interest which may affect the willingness of panel firms to act assertively in commercial negotiations with banks, we are not constrained by:

  • contractual or commercial restrictions on acting against banks in contentious or potentially contentious matters
  • having previously advised banks to insist on or reject particular facility provisions, or
  • a bank-centric view of market practice.

Our clients include significant entities listed on the ASX or other major international stock exchanges, as well as large private or unlisted companies and trusts. The breadth of our borrower focussed practice ensures we are cognisant of current market practices and the expectations of major lenders.

Our experience covers the full spectrum of debt finance work, including:

  • bilateral and syndicated bank debt facilities
  • debt capital markets
  • project and infrastructure finance
  • property finance
  • leveraged and acquisition finance
  • securitisation and structured products
  • derivatives
  • receivables financing
  • convertible and hybrid securities
  • restructuring, insolvency and workouts.

We are experienced in major bank debt and capital markets raisings in the Australian, US and European markets, and have strong relationships with leading firms in those jurisdictions.

In workouts and restructurings, our debt finance partners work closely with our specialist insolvency and restructuring partners to provide an integrated, cross-disciplinary team with the full range of skills which may be required.

  • McAleese: advising on the restructuring of the McAleese Group’s financing structure in connection with its IPO involving a move from a private equity style leveraged finance facility to a A$325 million syndicated, secured multi-option facility appropriate for an entity listed on ASX.
  • Arrium: advising on its senior debt and hedging facilities, including various interest rate and commodities trading hedges, and advice and documentation for Arrium’s senior debt facilities.
  • ALE Property Group: advising on its A$335 million Australian Medium Term Note Program, involving the issue by the ALE Direct Property Trust (a wholly owned subsidiary of ALE Property Group) of unsecured notes, while leaving in place an outstanding tranche of long dated, secured commercial mortgaged back securities under ALE’s CMBS program.
  • Beach Energy: acting for Beach Energy and its subsidiaries on its recent A$320 million refinancing, including due diligence and the negotiation of all facility and security documentation.
  • Vocation Limited: acting for Vocation on the establishment and amendment of a new A$102 million secured syndicated facility to finance its acquisition of Oil Group Pty Ltd and its subsidiaries.
  • Envestra: we act for Envestra on all aspects of its $1.9 billion secured debt program, which includes credit wrapped notes, MTN’s, syndicated and bilateral facilities and FX and interest rate hedging.
  • "They've been great and have met all our expectations. Their fantastic consistency and depth of knowledge have allowed us to work with them as if they were in-house." – Chambers Asia-Pacific, 2015
  • A popular borrower practice, (JWS) has a strong track record of dealing with banks across a range of financing, in conjunction with work in debt capital markets, derivatives, securitisation and structured products. – Chambers Asia-Pacific, 2014
  • Matthew Allchurch is praised by clients for his "strong and detailed knowledge of his clients and the issues that matter," enabling him to provide "very valuable advice."Chambers Asia-Pacific, 2015                                                              
  • Jim Hunwick is considered "a very good operator" who is "very responsive and commercial" and can "provide the right level of advice and is able to react quickly and efficiently."Chambers Asia-Pacific, 2014
  • From Johnson Winter & Slattery's borrower-focused practice, names to note include Matthew Allchurch and Jim Hunwick. Asia Pacific Legal 500, 2014
  • Matthew Allchurch is ranked as Band 3 lawyer for Corporate Finance – Chambers Asia-Pacific, 2015
  • Jim Hunwick is ranked as a Band 3 lawyer for Corporate Finance – Chambers Asia-Pacific, 2015
  • Jim Hunwick is recognised as a leading lawyer in Banking & Finance – Best Lawyers Australia, 2014