Infigen Energy Group’s A$605 Million Refinancing

Gilbert + Tobin has advised Goldman Sachs as arranger and underwriter of a senior term loan, and Westpac and CBA as super senior revolving credit facility lenders in relation to the Infigen Energy Group’s refinancing by way of a 5-year A$605 million syndicated facility agreement.

The term loan + super senior revolving credit facility structure has previously been a feature of the leveraged finance market (including G+T’s recent work on the private equity acquisitions of iNova, Novotech and Laser Clinics), but the use of the structure for the Infigen Energy Group’s refinancing is an innovative development in the Australian corporate loan market.

The refinancing will allow the Infigen Energy Group to repay its decade-old global debt facility that saw the company needing to divert significant amounts of its free cash flow to the repayment of its debt, rather than investing in new developments or making distributions to shareholders.

Gilbert + Tobin’s Banking + Infrastructure team advised the lenders on all aspects of the refinancing, including structuring, financing terms and syndication with a team including John Schembri (Picture), Adela Smith, Stuart Cormack, Lisa Hamilton, Billy Quist and Sean MacDonald.

Involved fees earner: John Schembri – Gilbert + Tobin; Adela Smith – Gilbert + Tobin; Stuart Cormack – Gilbert + Tobin; Lisa Hamilton – Gilbert + Tobin; Billy Quist – Gilbert + Tobin;

Law Firms: Gilbert + Tobin;

Clients: Goldman, Sachs & Co.;

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Author: Michael Patrini