19 December 2016

KWM’s infrastructure team delivers on Westconnex Stage 1

King & Wood Mallesons has assisted a syndicate of banks (comprising Commonwealth Bank of Australia, Credit Agricole CIB Australia Limited, ING Bank (Australia) Limited, ING Bank N.V., Singapore Branch, National Australia Bank, Natixis, Hong Kong branch and Westpac Banking Corporation) to reach financial close in respect of the $1.73B financing of Stage 1 of the Westconnex Motorway.

Stage 1 of the Westconnex Motorway comprises the widening of the existing M4 motorway and the development of a new 5.5 kilometre long tunnel, with three lanes in each direction, from Parramatta Road to Haberfield.

This important milestone in the development of the Westconnex Motorway will help the NSW Government realise its vision for Sydney to create the approx $16.8 billion and more than 30 kilometre WestConnex Motorway to link Sydney’s west and south-west with the city, airport and port.

This major transaction was successfully achieved 12 months after the same KWM team closed the financing of Stage 2 of the Westconnex Motorway (being the upgrade of the existing M5 interchange at King Georges Road and building the "New M5" between the M5 at Beverly Hills and St Peters).

Lead finance partner, Rebecca Finkelstein said “In the space of 12 months we are pleased that our infrastructure and finance teams have assisted the banks in helping Sydney Motorway Corporation meet its capital objectives by raising well over $3B in bank debt for the first two stages of the Westconnex project.”

Mark Upfold, KWM’s infrastructure leader who worked with Rebecca and the team noted “What I think sets us apart in the infrastructure space is our ability to harness expertise across the firm and deploy that rapidly to meet the needs of the transaction. Stage 1 was an example where our finance, derivative, environment and planning, construction, and procurement experts were mobilised and closed the project financing inside a challenging 3 month period.”

The KWM team was led by two partners from our infrastructure team; Rebecca Finkelstein and Mark Upfold, with support provided by Scott Budd (partner - construction) and Anne-Marie Neagle (partner - derivatives), Gareth Howe (senior associate) and solicitors Sarah De Ceglie, Meadhbh Cacciaguidi-Fahy, Freek Veldhoen, Lauren Murphy and Sam Monk.

Media contact

Share on LinkedIn Share on Facebook Share on Twitter
    You might also be interested in

    KWM, Asia’s top tier international law firm, is pleased to announce the promotion of ten lawyers as partners in Australia, effective 1 July 2021.

    17 June 2021

    KWM has advised in Axiata Digital Advertising (ADA), a subsidiary of Axiata Group Berhad, on the acquisition of Awake Asia.

    14 June 2021

    KWM is delighted to have acted as consortium legal counsel on the Building Communities consortium’s successful bid for Homes Victoria’s Ground Lease Model Project.

    11 June 2021

    KWM is delighted to have advised TransGrid on all aspects of its funding for Project EnergyConnect, the new 900km interconnector between New South Wales and South Australia.

    02 June 2021

    This site uses cookies to enhance your experience and to help us improve the site. Please see our Privacy Policy for further information. If you continue without changing your settings, we will assume that you are happy to receive these cookies. You can change your cookie settings at any time.

    For more information on which cookies we use then please refer to our Cookie Policy.