Mallesons Stephen Jaques
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Project finance - Australia

Recent matters

$190,000,000 financing for the stage 5A(2) expansion of the Dampier to Bunbury Natural Gas Pipeline
We advised the DBNGP group of companies on the financing for the stage 5A(2) expansion of the Dampier to Bunbury Natural Gas Pipeline, one of the most important pieces of infrastructure in Western Australia.

Financing the acquisition of Wandoo Petroleum Pty Ltd’s petroleum tenements by ARC Energy Limited
We advised ARC Energy Limited on the financing of its acquisition of an interest in the Cliff Head (WA) and Bass Gas (Vic) oil and gas assets. ARC Energy is a publicly-listed Western Australia-based oil and gas production and exploration company. The acquisition significantly enhanced and diversified ARC Energy’s production and reserves and cemented ARC Energy’s position as one of Australia’s pre-eminent energy companies. The company has described the deal as “transformational”.

Broadcast Australia
We acted for Broadcast Australia in the refinancing of their capital markets instruments with further long dated capital market instruments through to 2009.

A$200m facility to Midwest Vanadium Pty Limited for the Windimurra Vanadium project
We advised Merrill Lynch in relation to its arranging of syndicated senior and junior financing for Midwest Vanadium Pty Limited in relation to its Windimurra Vanadium Project. This project is a significant vanadium mining operation being undertaken by Midwest Vanadium Pty Limited in Western Australia.

BBWPL Global refinancing
We acted for Babcock and Brown Wind Partners Limited in the major global refinancing of their business. This matter has won the IJ Global Deal of the Year award at the 2007 Infrastructure Journal Awards, the Asia Renewables Portfolio Deal of the Year 2007: Babcock & Brown Global Wind Partners (Euromoney's Project Finance) and Environmental Finance Awards - Renewable Energy Project Financing of the Year for the Babcock & Brown wind farm financing.

BBP Global refinance
We acted for Babcock and Brown Power in the global refinancing of power station assets valued at AUD$3 billion.

Ramsay Health Care acquisition of Capio
We acted for Ramsay Health Care Limited in the global refinancing of facilities and the concurrent $800 million acquisition of Hospital Operator Capio UK. The acquisition provides Ramsay Health with a platform to offshore expansion.

Pelican Point Power Station Refinancing
We acted for Pelican Point Power Limited, a subsidiary of International Power plc, on the A$190,000,000 refinancing of the Pelican Point Power Station in South Australia.

Restructure of Westlink Debt Facilites (Project Pavement)
We acted for WSO Finance Pty Limited, a member of the Westlink Motorway Group, on the restructuring of its A$1.5 billion project finance debt facilities.

Financing Single LEAP 1
We acted for Deutsche Bank AG in the $237,000,000 financing for Plenary group in connection with Commonwealth Defence force housing (Single LEAP) PPP.

Syndicated construction finance for Juniper’s development of ‘Soul’
We acted for a syndicate of banks on the 468 million dollar syndicated construction finance facility for the Junipers Group’s ‘Soul’ development.

Royal Bank of Scotland, National Australia Bank and HVB Australia Ltd
IFLR Deal of the year for Oil and Gas financing in the Asia Pacific region.

We acted as Australian counsel to the lending syndicate to assist Coogee Resources in the US$270 million financing of start up oil exploration and the development of the Montara, Skua, Swift and Swallow Oil Fields in the Bonaparte Basin in the Timor Sea and capital expenditure requirements on the existing Jabiru and Challis Oil Fields.

ST Kilda triangle project
We acted for BBC Triangle Investments (the project vehicle in a consortium led by Babcock & Brown and Citta Property Group) in relation to its successful bid to redevelop the Triangle site (a culturally important area in the inner Melbourne bayside suburb of St Kilda) which was put out to tender by the Victorian Government in 2005. The project is financed by approximately $300 million of senior and mezzanine debt facilities. The financing is significant because it was negotiated during the recent turmoil in the financial markets at pricing which is lower than currently available.

Epic capital expenditure debt facility
We advised Epic Energy Australia Pty Ltd in relation to arranging and negotiating a secured $165 million Capital Expenditure debt facility to fund the construction of a gas pipeline connecting existing pipelines between South West Queensland, South Australia and New South Wales.

Privatisation of Masinloc coal-fired thermal plant
We acted for AES Corporation in its bid for, and US$1.1 billion financing of, the Masinloc Coal-Fired Thermal Power Plant located in the Philippines. At the time this was the largest of the new privatisations of the electricity industry in the Philippines being conducted by the Government.

PPPs