Top firms power TransGrid's $4.2bn refinance

Australian and international banks refinanced the senior bank facilities of the electricity giant

Top firms power TransGrid's $4.2bn refinance

Two leading firms powered the recently completed $4.2bn refinance of the senior bank facilities of TransGrid.

Herbert Smith Freehills (HSF) acted for TransgGrid, the operator and manager of the main high-voltage electricity transmission network in New South Wales and the Australian Capital Territory.

Gilbert + Tobin was the law firm of the syndicate of Australian and international banks that provided the facilities.

The refinance gives TransGrid diversification of its maturity profile, giving it access to capital markets while maintaining meaningful exposure to the domestic market, HSF said. The refinance follows the company’s 2016 and 2017 private placements in the US.

“The transaction demonstrates TransGrid’s ability to achieve strong commercial outcomes and its ability to manage its financial market risks in relation to debt and investments,” said Erin Wakelin, HSF’s lead partner on the deal.

Wakelin was supported by executive counsel Amelia Fleming and solicitor Arnica Mullins.

HSF recently acted for MUFG Bank, Societe Generale and Mizuho Bank on the financing of the Beryl Solar Farm; Airport Motorway and AMT Management on the $226m refinancing of Sydney’s “Eastern Distributor” motorway; and Societe Generale, ING and National Australia Bank on Gold Road Resources’ $150m revolving corporate and working capital facility.


Recent articles & video

New metric developed to assess socioeconomic challenges of US law school applicants

American Bar Association to examine accreditation standards for online law schools

International law firm to fund neurodiversity assessments and support for employees

Yoorrook Justice Commission CEO is new Human Rights Commission president

Victorian, Queensland Supreme Courts publish guidelines for AI use

MinterEllison expands consulting team with seven partners

Most Read Articles

NSW Supreme Court sets trial date for landmark strip search class action

K&L Gates Advises Centuria on acquisition of massive glasshouse in Victoria

Hall & Wilcox assists Tobii Dynavox to acquire Link Assistive for $13m

Pearce IP's AU litigation head shares the most important lesson she learned from her old job