One transaction involves a financing effort valued at $2.35bn
Gilbert + Tobin (G+T) has lent its expertise to two major rail deals, one of which involved a billion-dollar financing.
The firm advised a syndicate of lenders on a $2.35bn funding effort to support Aurizon’s acquisition of One Rail Australia. The funding is an addition to Aurizon’s current debt facilities.
The transaction also saw the establishment of standalone debt facilities for the divested East Coast Rail haulage business in NSW and Queensland, G+T confirmed. Co-lead partner Simon Lynch described the deal as a “highly complex” one that necessitated ACCC clearance and various levels of approval.
“The acquisition is transformative for Aurizon, as it expands into new geographies and markets. We congratulate them on what is a milestone for Australian infrastructure investment,” he said. “It was a privilege to work with a sophisticated syndicate of lenders on this landmark transaction.”
Lynch worked alongside partner John Schembri and special counsel Rachel Jones. They were supported by consultant Abby McIntosh, lawyer Christian Smolders and graduate John Edmunds.
Another G+T team guided Anchorage Capital Partners on its divestment of Rail First Asset Management to the consortium of Amber Infrastructure and DIF Capital Partners.
Corporate advisory partner Peter Cook helmed G+T’s team on the matter, working with lawyers Ilona Hunnisett, Matthew Coe and Rebecca Ryan. Other specialists also pitched in as the team provided advice on all legal aspects of the sale.
Rail First provides vertically integrated rolling stock leasing and maintenance solutions to the rail industry. The business operates more than 1,300 locomotives and wagons.