Lending syndicate pulls off $1.6bn debt optimisation with Allens' advice

The transaction involves Kinetic's Australian and New Zealand dollar debt facilities

Lending syndicate pulls off $1.6bn debt optimisation with Allens' advice

Allens has assisted a syndicate composed of lenders and hedge banks in relation to the $1.6bn debt optimisation of mass transit company Kinetic's Australian and New Zealand dollar debt facilities.

According to the firm, this financing “was founded on core-plus infrastructure debt principles, repositioning from Kinetic's previous funding packages”.

'We are seeing more borrowers in infrastructure-like businesses interested in accessing core-plus infrastructure financing packages to take advantage of improved pricing outcomes and access to a deeper pool of capital while also giving infrastructure lenders the opportunity to invest in a more diversified set of assets outside of more traditional infrastructure classes”, lead partner Michael Ryan said.

The debt optimisation package boosts Kinetic’s capital flexibility, allowing the company to finance growth initiatives and invest in infrastructure to achieve its net zero targets. Ryan lauded the debt package’s implementation, which he said would “support the ambitious growth goals of the business across Australasia and the further electrification of its fleet”.

In addition to Ryan, the Allens team comprised the following:

Banking and finance

  • Tristan Kelly (senior associate)
  • Yoni Baker (senior associate)
  • Michael Zeng (associate)
  • Naomi Lee (associate)
  • Lisa Wang (lawyer)
  • Jun-En Chong (lawyer)

Tax

  • Ellen Thomas (partner)
  • George Bishop (senior associate)

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