The deal is a first for an Australian corporate
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King & Wood Mallesons (KWM) has acted in the pioneering $350m Term Loan B (TLB) facility of Australian Technology Innovators.
KWM advised Goldman Sachs and JPMorgan as joint lead arrangers and bookrunners on the debt-market offerings for LEAP Legal Software and the InfoTrack Groups. LEAP offers practice management software for small- and medium-sized law firms while InfoTrack is a regulated data provider for property, company, and personal information.
Clayton Utz earlier confirmed that it acted for LEAP and InfoTrack.
The transaction is the first Australian-law-governed standalone covenant-lite Australian-dollar-denominated TLB facility for an Australian corporate. The Australian market usually sees AUD-denominated TLB tranches as part of a wider transaction with US-dollar tranches or with a US parent organisation.
Banking partner Yuen-Yee Cho led the KWM team, which also included by senior associate Jason Byrne and solicitors Zoe Anderson, Karen Chen and Jing Wang.
Information technology and intellectual property advice was provided by partner Patrick Gunning and senior associates Nick Sinclair and Melissa Miller.
“The product connects domestic and international institutional debt investors with Australian corporates, providing them with a wider choice of financing options,” Cho said.
Related stories:
Top firm advises on landmark $350m debt-market deal
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KWM advised Goldman Sachs and JPMorgan as joint lead arrangers and bookrunners on the debt-market offerings for LEAP Legal Software and the InfoTrack Groups. LEAP offers practice management software for small- and medium-sized law firms while InfoTrack is a regulated data provider for property, company, and personal information.
Clayton Utz earlier confirmed that it acted for LEAP and InfoTrack.
The transaction is the first Australian-law-governed standalone covenant-lite Australian-dollar-denominated TLB facility for an Australian corporate. The Australian market usually sees AUD-denominated TLB tranches as part of a wider transaction with US-dollar tranches or with a US parent organisation.
Banking partner Yuen-Yee Cho led the KWM team, which also included by senior associate Jason Byrne and solicitors Zoe Anderson, Karen Chen and Jing Wang.
Information technology and intellectual property advice was provided by partner Patrick Gunning and senior associates Nick Sinclair and Melissa Miller.
“The product connects domestic and international institutional debt investors with Australian corporates, providing them with a wider choice of financing options,” Cho said.
Related stories:
Top firm advises on landmark $350m debt-market deal
Bank hybrid proceeds with two firms’ advice
