Supporting organisation channel funds to where it’s needed
Government funding vehicles (such as NHFIC, the CEFC and NAIF) and Multilateral development banks, play a crucial role in addressing shortfalls in the funding market, providing long term debt to assist with project development.
The team at King & Wood Mallesons has been at the forefront of both advising these entities on their internal funding structures and advising sponsors and borrowers developing projects with the help of government or multilateral financing.
Having worked across the spectrum of financial institutions, clients turn to us to advise on:
- Structuring and transactions execution
- Bond issuances for internal funding requirements
- Understanding the role such institutions can play in the capital stack; and project financing.
- National Housing Finance and Investment Corporation on the establishment of the Federal Government’s National Housing Finance and Investment Corporation to support the nation-wide community housing sector and subsequently advising NHFIC on its social bond program including the first Australian market affordable housing bond issuance, being its A$315 million 2029 Social Bonds and its first funding of a PPP for the Victorian Public Housing Renewal Program.
- Clean Energy Finance Corporation on various financing projects under CEFC’s common investment mandate, including Kennedy Energy Park, the first utility scale wind, solar and battery project, the South Australian pilot project for a Virtual Power Plant with Tesla and the A$100 million bond issuance with Macquarie to subsidise its ‘clean consumer asset’ financings.
- ECAs – we have advised:
- EKF in relation to its participation in the Sapphire Wind Farm development in NSW.
- K-Exim and KSure in relation to their participation in Australian social infrastructure PPPs.
- European Investment Bank on all six of its Australian market Climate Awareness issuances, including its A$750 million 2023 Climate Awareness Bonds and its A$1 billion 2028 Climate Awareness Bonds.
- African Development Bank on both of its Australian market Green Bonds issuances, being its A$115 million 2031 Green Bonds, and also its A$75.4 million Improve Quality of Life Bonds and A$25 million Industrialise Africa Bonds.
- NSW TCorp, the first sustainability bond program and the largest green bond issuance in Australia, being its A$1.8 billion 2028 Green Bonds.