Charter Hall Long WALE REIT (CLW) has completed a comprehensive refinancing of its balance sheet, with Mallesons advising on the implementation of a $2 billion secured debt platform.
The new platform refinances CLW’s existing balance sheet debt and replaces its previous unsecured debt arrangements with a secured structure for its balance sheet-owned assets, diversified across a pool of 10 lending counterparties.
The refinance strengthens CLW’s capital position by extending its weighted average debt maturity profile, increasing covenant headroom and reducing its weighted average credit margin.
CLW is an ASX-listed property trust investing in high-quality, long-leased real estate assets across Australasia. It is managed by Charter Hall Group.
The Mallesons team was led by Partner Ken Astridge, supported by Senior Associate Kate Dundon, Solicitors Jade Dawson and Leilani Hunt, and Law Graduate Clinton Walsh.
The firm also utilised its cross-practice expertise, with support from Real Estate Partner Felicity Savage and Associate Peter Henshall.
Commenting on the transaction, Ken Astridge said:
“It is always rewarding to assist a client in executing their plans successfully through collaboration and as an integral part of a much larger team.”
Mallesons regularly advises clients on complex financing and refinancing transactions across the real estate sector, helping them optimise capital structures, manage refinancing risk and enhance funding flexibility.
