April wrapped up several new and exciting deals for our teams and clients. In this edition of The Dispatch, we see more transition-themed activity in projects, financing and M&A – in particular a transformational A$3.5bn series of financing agreements to drive net-zero ambitions. We also spotlight noteworthy deals in capital markets and private capital.
Working together, Will Stawell, Dan Flanagan and Rebecca Finkelstein advised mass transit company Kinetic on new strategic financing arrangements to further its net zero ambitions, raising in excess of A$3.5bn across multiple transactions. Kinetic, a portfolio company of OPTrust and Foresight Group, is a leading operator of mass transit systems in Australia, New Zealand, the UK, and Europe. Kudos to the wider team: Zoe Anderson, Amy Maguire, Pip Montgomery, Stephen Sharpe, Tianna Butler and Bianca Ng.
David Eliakim, Roderick Smythe, Malcolm Brennan and Scott Heezen advised Wollar Solar Holding (WSH) a member of the Beijing Energy Group (BJEI Australia) – on its entry into a Scheme Implementation Agreement under which WSH proposes to acquire TPC Consolidated Limited by way of a scheme of arrangement. WSH was established by BJEI Australia in 2021 to build and operate a significant portfolio of clean energy projects throughout Australia. We are excited about the opportunities this transaction will bring the energy sector!
Congratulations to the wider team: Samuel Higgs, Aaron Brooks, Abby Mu, Claudia Hollings and Victoria Lanyon.
Roderick Smythe led two significant resources deals advising Igneo Infrastructure Partners (Igneo). The two investments were through Igneo’s Australian waste and resource recovery investment platform, Integrated Waste Services (IWS) in NSW and WA. The investments enable Igneo to expand its IWS business into the NSW and WA markets, helping further develop a sustainable and innovative waste platform. Well done to the wider team: Josh Thorneycroft, Angus Morris, Sebastian Steenkamp, Morgan Clune and Patrick Przybylski.
An important capital transaction for ANZ was led by Ian Paterson, Joseph Muraca and Jack Hill to advise ANZ on its offer of ANZ Capital Notes 9 (CN9). The hybrid notes raised $1.7 billion of additional Tier 1 Capital. KWM advised ANZ on all aspects of the CN9 offer, including the reinvestment offer for eligible ANZ Capital Notes 4 holders. A big congratulations to the wider team: Kathryn Tomasic, James Atcheson, Andrew Chong, Alice Sawers, David Wood and Frankie Barbour.