Allens has cemented its place as Australia's leading legal adviser in finance, having topped numerous project finance and syndicated loans rankings for H1 2024.
As part of its work across the full spectrum of financing transactions, the Allens team advised on some of the most significant transactions in the region in the first half of the year, on projects as diverse as battery energy storage system financings, critical minerals mining debt facilities, sustainability-linked corporate financings and debt optimisations.
In project finance, Allens was ranked:
- number one Asia-Pacific legal adviser by volume by Infralogic; and
- number one Asia-Pacific legal adviser in infrastructure and project finance by volume by IJGlobal.
In syndicated loans, Allens was ranked:
- number one Asia-Pacific (ex-Japan) borrower legal adviser by both value and volume by Bloomberg;
- number one Asia-Pacific (ex-Japan) lender legal adviser by value by Bloomberg;
- number one Asia-Pacific (ex-Japan) lead bank legal adviser by value by Debtwire; and
- number one Australian lender legal adviser by value by LSEG.
In FY24, the firm advised on the financing of a number of key transactions, including:
- Akaysha Energy on the $650 million financing of its Orana Battery Energy Storage System, the largest four-hour BESS in Australia's National Energy Market and one of the largest in the world (Allens advises Akaysha Energy on world's largest BESS financing).
- Symphony Infrastructure Partners on its innovative $488 million debt and equity financing package to accelerate the growth of its energy transition infrastructure platform (Allens advises Symphony Infrastructure Partners on $488m financing).
- Origin Energy Limited – on its refinancing of A$3.5bn of its corporate syndicated facilities.
- Morgan Stanley Infrastructure Partners on all aspects, including the leveraged financing, for the acquisition of a 49% stake in a private haul road from Mineral Resources, for a total consideration of up to $1.3 billion (Allens advises Morgan Stanley Infrastructure Partners on its stake in the Onslow).
- A consortium of 12 domestic and international banks, and the Clean Energy Finance Corporation, on the debt financing of Fotowatio Renewable Ventures Australia's renewable energy portfolio, marking one of the largest deals of its kind in Australia (Allens advises lenders on one of Australia's largest renewable energy financings).
- Seraya Partners and its portfolio company Cyan Renewables on the financing of its acquisition by way of scheme of arrangement of WA-based marine and subsea services provider, MMA Offshore Limited. With an implied equity value of $1.1 billion, the acquisition of MMA marks the largest take-private transaction to date in the offshore energy services industry in the Asia Pacific Region. (Allens advises on $1.1bn acquisition of ASX-listed MMA Offshore Limited).
- UBS as financier to non-bank lender, Centuria Bass Credit, on its inaugural $150 million warehouse facility.
'We are immensely grateful to our clients for entrusting us with some of the largest and most complex financing transactions of the first half of 2024,' said Tim Stewart, Head of Banking & Finance.
'As market dynamics shift in our region through the rise of private capital, energy transition projects and shifting debt markets, we have a perhaps unprecedented opportunity for creativity and innovation in finance.
'Working in multidisciplinary teams across the full spectrum of financing transactions allows us to bring cutting-edge solutions to our clients' most pressing challenges. It is pleasing to see the breadth of our work recognised in these rankings.'
