Herbert Smith Freehills advised Coronado Global Resources Inc. on the deal. Gilbert + Tobin acted for Credit Suisse Securities (USA) LLC and Citibank, N.A.
The Entitlement Offer was part of Coronado’s refinancing package, which comprised a US$350 million offering of senior secured notes, a senior secured asset-based revolving credit agreement providing for a multi-currency asset-based-loan credit facility in an initial aggregate principal amount of US$100 million, and the Entitlement Offer.
Proceeds of the refinancing package were used to repay monies owed under Coronado’s syndicated facilities agreement (that was subsequently terminated) and also to support liquidity on the balance sheet.
Coronado is a low-cost global producer, marketer and exporter of a full range of premium quality metallurgical coals. The company owns a portfolio of operating mines located in Queensland, Australia, and in Virginia and West Virginia in the United States.
Citigroup Global Markets Australia Pty Limited and Credit Suisse (Australia) Limited acted as underwriters and joint lead managers to the Entitlement Offer.
The Herbert Smith Freehills team was led by partner Philippa Stone (Picture), who was supported by senior associate Michael Burrell, solicitors Jennie Bian and Alex Jarmyn, and graduate Jonathan Wu.
The G+T team comprised of partner Robert Trowbridge with special counsel Louise McCoach, with support by partner Peter Bowden, special counsel Anna Schwartz, lawyers Lisa Hamilton and Patrick Foote and consultant Lukasz Napieraj.
Involved fees earner: Alex James – Fieldfisher; Peter Bowden – Gilbert + Tobin; Patrick Foote – Gilbert + Tobin; Lisa Hamilton – Gilbert + Tobin; Louise McCoach – Gilbert + Tobin; Lukasz Napieraj – Gilbert + Tobin; Anna Schwartz – Gilbert + Tobin; Robert Trowbridge – Gilbert + Tobin; Jennie Bian – Herbert Smith Freehills; Michael Burrell – Herbert Smith Freehills; Philippa Stone – Herbert Smith Freehills;