Allens has advised a large syndicate of lenders and hedge banks on the $1.6 billion debt optimisation of mass transit company Kinetic's Australian dollar and New Zealand dollar debt facilities. The financing was founded on core-plus infrastructure debt principles, repositioning from Kinetic's previous funding packages.
'We are seeing more borrowers in infrastructure like businesses interested in accessing core-plus infrastructure financing packages to take advantage of improved pricing outcomes and access to a deeper pool of capital while also giving infrastructure lenders the opportunity to invest in a more diversified set of assets outside of more traditional infrastructure classes,' said lead Partner and Head of Project Finance, Michael Ryan.
Kinetic is a world leader in the industry in terms of fleet electrification. The package increases Kinetic's capital flexibility to fund growth initiatives and invest in infrastructure to meet its ambitious Net Zero targets and service its customers while remaining an employer of choice and a trusted partner for Governments and commercial operators.
'Many congratulations to the large and diverse lender group and to Kinetic and its sponsors on implementing a debt package that will support the ambitious growth goals of the business across Australasia and the further electrification of its fleet.'
