13 April 2021

King & Wood Mallesons advises on WestConnex’s AMTN Programme and A$650 million issuance

King & Wood Mallesons (“KWM”) is pleased to have advised WestConnex on the establishment of an Australian Medium Term Note (“AMTN”) programme and issuance. The issuance was a 10-year fixed rate senior secured bond for $650m – one the largest 10-year issuances in the domestic market’s history. Pricing was completed on 23 March 2021 and settlement of the notes occurred on 31 March 2021. The notes will rank equally with WestConnex’s existing senior secured debt.

The KWM team advising WestConnex was led by Partners Tim Ma and Claire Rogers, and supported by Senior Associate Amy Maguire, and Solicitors, Claudia Martin and Lily Rayment.

Commenting on the transaction, Tim and Claire said: “Congratulations to WestConnex, its shareholders, the JLMs and the investors. We are delighted to have once again worked with WestConnex, this time on its inaugural issuance into the debt capital markets. This transaction will represent a significant achievement in the financing history of WestConnex, which will be one of Australia’s premier borrowers/issuers for many years ahead.”

KWM has acted for WestConnex on its financing since the Sydney Transport Partners Consortium acquired a 51% equity stake of WestConnex in 2018, including advising on their A$4.2 billion refinancing in December 2020. 

Media contact

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

    King & Wood Mallesons (KWM) took out the top award in this year’s Financial Times (FT) Asia-Pacific Innovative Lawyers program.

    14 May 2021

    King & Wood Mallesons (KWM) is pleased to have advised Suncorp Group Limited (Suncorp) on the strategic sale of its Australian Wealth Business.

    14 May 2021

    King & Wood Mallesons (KWM) has advised Namoi Cotton Limited on its institutional placement and share purchase plan.

    14 May 2021

    King & Wood Mallesons (KWM) has advised Axiata Digital Services (ADS) on the formation of an alliance with SoftBank Corp.

    12 May 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.