WestConnex Finance Company Pty Ltd

WestConnex M4 - Refinancing

Industry
Infrastructure/Road
Area of finance
Project & Infrastructure Finance
Country
Australia

Deal Overview

WestConnex Finance Company Pty Limited, the financing vehicle of the WestConnex Group (WCX) has raised A$4.2 billion of new non-recourse debt comprising A$3.0 billion of bank term debt facilities with tenors of 3, 5 and 7 years, and a A$1.2 billion 2 year bridge facility. Financial close was...

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WestConnex Finance Company Pty Limited, the financing vehicle of the WestConnex Group (WCX) has raised A$4.2 billion of new non-recourse debt comprising A$3.0 billion of bank term debt facilities with tenors of 3, 5 and 7 years, and a A$1.2 billion 2 year bridge facility. Financial close was achieved on 18 December 2020.

The proceeds from the raising will be used to refinance A$4.0 billion of existing bank debt facilities that were established at WCX M4 at the time of Sydney Transport Partners’ acquisition of its 51% equity stake of WCX in 2018, as well as fund associated transaction costs. The interest rate exposure on the term debt facilities will be fully hedged.

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Deal Volume
$ 3.19bn
Financial Close
18 December 2020
Sources
Submitted by participant(s)

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Tranches


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Projects

WestConnex Road

Brownfield
Road
Australia
$ 12.97bn