Hamilton Locke advises CIMIC Group Limited on $1.9 billion syndicated refinance

Hamilton Locke acted for CIMIC Group Limited on the refinance of its core working capital cash facility. The refinance involved putting in place two new syndicated facilities in an aggregate of $1.9 billion, split equally across tranches of four and five years. The new syndicated facilities replace an existing tranche in CIMIC’s current facility which was due to mature in September 2020.

Twenty-five financial institutions were involved in the transaction and the syndication was arranged by ANZ, CBA and SMBC as coordinating mandated lead arrangers and bookrunners, with NAB acting as facility agent for both of the new facilities.

The team at Hamilton Locke was led by partner Brad Allen and assisted by lawyers Shannon McCarthy and Jeremy Chow.

Commenting on the transaction, Brad Allen said: “We are delighted to have worked with CIMIC on this core refinancing transaction for the group. The new facilities further diversify the maturity profile and provide increased flexibility and liquidity for our client to pursue its objectives.”

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