The three firms from down under acted in tandem with nine other law firms from around the world
Tronox Limited, an Australian-incorporated, New York Stock Exchange-listed mining and inorganic chemical business, recently completed its US$450m senior notes offer and refinanced a US$2.15bn term loan and a US$550m asset-based lending (ABL) facility.
Ashurst acted for Tronox Limited and its Australian subsidiaries, which were the deal’s borrowers, guarantors, and security providers. MinterEllison acted as the Australian lender counsel, while KWM acted as counsel for outgoing ABL lenders.
The Ashurst team was led by finance partner Kenneth Nguyen, who was assisted by partners John Sartori (corporate), Ian Kellock (tax), Geoffrey Mann (tax), Lionel Meehan (restructuring and special situations), and Mark Bradley (disputes).
The deal, which had a complex cross-border element, also involved nine other law firms.
Willkie Farr & Gallagher acted as UK and US borrower counsel. Higgs & Johnson advised as Bahamas borrower counsel. Ashurst was also the Ashurst Brussels borrower counsel. Bird & Bird acted as Dutch borrower counsel. Homburger AG was the Swiss borrower counsel. Latham & Watkins was the lender group counsel. Riemer Braunstein was the ABL lender counsel. Harry B. Sands Lobosky and Company was the Bahamas lender group counsel. Loyens & Loeff N.V. acted as the Dutch lender group counsel. GHR Rechtsanwalte AG was the Swiss lender group counsel.
Nguyen said Ashurst is delighted to have assisted its longstanding client on the major refinancing, which will support the combination with Cristal’s TiO2 business in due course.
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