Login
ConnectEast refinances EastLink tollway for $1.1bn
Through its contracted work by the Victorian government to maintain and operate the EastLink tollway through to 2043, ConnectEast has refinanced it for $1.1 billion.
Naomi Neilson
Firm: Allen & Overy (ConnectEast)
Value: $1.1 billion.
Area: Transport.
Key players: The team was led by Sydney partner James Abbott, supported by senior foreign registered lawyer Emma Avery and lawyer Waiana Mulligan.
Hong Kong counsel James Yao advised on banking and finance, and tax advice was provided by Sydney partner Ka Sen Wong and senior associate Alice Morstyn.
Deal significance: ConnectEast is a privately owned company dedicated to the financing, design, construction, maintenance and operation of the EastLink tollway, which connects the Eastern Freeway to Peninsula Link and Frankston Freeway.
Mr Abbott commented: “This refinancing will enable ConnectEast to continue maintaining and operating one of Melbourne’s vital arterial roads, and A&O is pleased to support ConnectEast on this achievement.
“The refinancing was timely. When ConnectEast approached potential lenders, the company found a strong market available to borrowers of ConnectEast’s calibre and reputation, resulting in four existing lenders and five incoming lenders participating in the new syndicated facility.”
Naomi Neilson
Naomi Neilson is a senior journalist with a focus on court reporting for Lawyers Weekly.
You can email Naomi at:
