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ConnectEast advised on $705m refinancing for EastLink
Australian-owned finance, design, construction and maintenance company ConnectEast has been advised on its refinancing for EastLink, the longest tollway in Victoria.
Jerome Doraisamy
Firm: Allens (ConnectEast)
“Comprising a combination of short-medium term bank debt and long-dated 10-year institutional term loan debt with bank and non-bank institutions, the refinancing debt was successfully raised against a backdrop of volatile debt and debt capital markets,” Allens said in a statement.
“It affirms the trend of sponsors with long-dated and stable cash flow generating assets strategically turning to institutional term loan debt as a viable alternative to USPP markets.”
Area: Finance
Value: $705 million
Key players: The Allens team was led by partner Michael Ryan, who was supported by partner Lisa Zhou, associate Yoni Baker and lawyer Lachlan Paterson.
Deal significance: Mr Ryan said: “We are proud to have worked alongside ConnectEast, its lenders and financial adviser, RBC, on this successful refinancing.
“The deal is a prime example of a sponsor successfully diversifying its debt profile by tapping into a pool of longer-term institutional term loan providers alongside its bank debt. We look forward to continuing to support ConnectEast in the future.”
Jerome Doraisamy
Jerome Doraisamy is the editor of Lawyers Weekly and HR Leader. He has worked at Momentum Media as a journalist on Lawyers Weekly since February 2018, and has served as editor since March 2022. In June 2024, he also assumed the editorship of HR Leader. Jerome is also the author of The Wellness Doctrines book series, an admitted solicitor in NSW, and a board director of the Minds Count Foundation.
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