Assessing Federal Legislative Changes to Employee Share Schemes
This article focuses on recent measures taken at the federal level to renew Australia’s employee…
Hamilton Locke acted for CIMIC Group Limited (CIMIC) on its latest syndicated cash facility in excess of AUD1 Billion.
The CIMIC Group is an engineering-led construction, mining, services and public private partnerships industry leader. The group is comprised of construction businesses, CPB Contractors, Leighton Asia and Broad, mineral processing company Sedgman, services specialist UGL and public private partnerships arm Pacific Partnerships, all of which are supported by in-house engineering consultancy EIC Activities.
The CIMIC Group also has investments in Thiess, the world’s largest mining services provider and Ventia, one of the largest essential infrastructure service providers in Australia and New Zealand.
The transaction involved putting in place a new section 128F compliant syndicated cash facility split across two tranches (comprising of an AUD revolving loan and term loan facility) in an aggregate amount in excess of AUD1 billion.
Six major financial institutions (comprised of both Australian and international financiers) were involved in the transaction with Australia and New Zealand Banking Group Limited acting as facility agent.
The transaction is part of a strong and ongoing relationship between CIMIC and Hamilton Locke, with Hamilton Locke having acted for CIMIC on a number of its significant financing arrangements since 2019.
The team at Hamilton Locke was led by partner Brad Allen and lawyer Wil Alam. The team was also supported by partner Adam Jeffrey.