Insurance broking company debuts $285m syndicated facilities

Two firms have advised on Steadfast Group’s debut syndicated facilities, which were valued at $285 million.

Lara Bullock • 24 August 2015 • Big Law

Firms: King & Wood Mallesons (Steadfast Group Ltd); Clayton Utz (Macquarie Bank)

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Deal: Steadfast Group’s debut syndicated facilities replaced its existing bilateral facilities with Macquarie Bank.

Value: $285 million

Area: Capital Markets

Key Players: The KWM team comprised banking and finance partner Yuen-Yee Cho (pictured) and solicitor Michael Spurritt.

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Deal Significance: Insurance broking company Steadfast Group replaced its existing $180 million bilateral facilities with Macquarie Bank with its debut $285 million syndicated facilities, which provides Steadfast Group with increased debt capacity.

KWM parter Yuen-Yee Cho said: “We are very pleased to have had this opportunity to assist Steadfast Group on its debut debt raising in the syndicated loan market. The facility will serve as a platform for Steadfast Group’s growth plans and future financings.”

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