Disintermediation in leveraged finance continues in Australia and beyond

A global firm helps closes two financings for a newly established debt fund

Disintermediation in leveraged finance continues in Australia and beyond

Hogan Lovells has helped a newly formed debt fund close two financing transactions in a week, as disintermediation in leveraged finance continues in Australia and beyond.

The global firm was lead counsel for Tanarra Credit Partners as it provided funding to Next Capital, an Australian private equity firm, to acquire Brisbane-based data centre business iseek Communications.

Hogan Lovells was also lead counsel Tanarra as it provided funding to Ansett Aviation Training. Ansett is a portfolio company of CHAMP Ventures, another Australian private equity firm.

Tanarra, a debt fund investing in senior and mezzanine loans across the Asia-Pacific region, was launched in November after raising $285m.

Richard Hayes, joint lead partner of the Hogan Lovells team, said that the firm helped Tanarra with the structuring, negotiation, documentation and completion of the transactions.

“These deals highlight the success of Tanarra's business model and platform and reflect the ongoing trend of disintermediation in the leveraged finance market here in Australia and overseas,” Hayes said.

Hayes led the Hogan Lovells team with corporate partner Matt Johnson. The team also included counsel Chris Robertson, associate Eric Van Winssen and Alistair Handy, and trainee solicitor Amelia Schubach.

 

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