Login
Zenith advised on $440m debt financing
International law firm Allens, KPMG Debt Advisory and Azure Capital have advised Zenith Energy on its debt financing worth $440 million.
Emma Musgrave
Firm: Allens (Zenith Energy); KPMG Debt Advisory (Zenith Energy); Azure Capital (Zenith Energy).
Value: $440 million
Area: Finance.
Key players: The Allens team was led by partner Ben Farnsworth with support from managing associate Rod Aldus, senior associate Tania Joppich, and lawyers Madeleine Ninkov and Cassie Chu-Yu-Chee.
The KPMG Debt Advisory team was led by KPMG partner Linda Blore, supported by KPMG director Paul Hodsman and analysts Michael Beech and Rebecca Chong.
Deal significance: Zenith Energy is a leading independent power producer. The group currently holds more than 500 megawatts capacity under contract or in development.
This successful debt financing process will deliver $440 million in five-year syndicated debt facilities to support new generation projects.
According to a statement from Allens, all existing debt facilities were refinanced, with Zenith entering into new debt facilities with Westpac Banking Corporation, National Australia Bank, Sumitomo Mitsui Banking Corporation, BNP Paribas, Australia and New Zealand Banking Group, and Aware Super.
“The available growth capital expenditure limits under the facilities will support new generation projects, as well as growth in Zenith’s urban and remote microgrid segment,” the firm added.
Commenting further, Allens lead partner Ben Farnsworth said: “It is immensely pleasing to support Zenith Energy to secure capital expenditure funding for the development of its future projects, particularly given the increasing complexity of remote power solutions.
“As reflected in this refinancing, there is an enormous appetite among financiers to assist companies in participating in energy transition, which shows no sign of abating.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
Email Emma on:
