Norton Rose Group, the international legal practice, has advised Australia and New Zealand Banking Group Limited, The Hongkong and Shanghai Banking Corporation Limited and Cooperative Centrale Raiffeisen-Boerenleenbank B.A on its US$1.3 billion and A$600 million syndicated loan facilities to Wilmar International Limited for its acquisition of Sucrogen Limited from CSR Limited. This transaction was recently awarded AsiaMoney Best Syndicated Loan Award 2010.
Wilmar International Limited is one of Asia’s leading Agribusiness companies. It ranks amongst the largest listed companies by market capitalisation on the Singapore Stock Exchange.
The Facilities are guaranteed by Wilmar. The US$1.3 billion term loan facility will be used to finance the acquisition of Sucrogen Limited (Sucrogen) whilst the A$600 million revolving credit facility was used to meet the general corporate and working capital requirements of Sucrogen.
Yu-En Ong, banking partner, Singapore commented:
“This transaction is indicative of the increasing number of deals taking place between Australia and South East Asia and our ability to provide seamless advice both in Australia and Singapore law was key to the transaction.”
Dan Marjanovic, banking partner, Sydney commented:
“The transaction is another example of a major investment by leading regional companies into the Australian commodities sector with the funding being arranged regionally by major international banks and, with the Asia Pacific region currently at the forefront of global growth, we expect that trend to continue.”
The team was led by banking partner Yu-En Ong assisted by associate Jane Cheong.
The Australia team was led by banking partner Dan Marjanovic and assisted by Linda Robinson. Tax advice was provided by partner, Peter Norman and senior associate Claire Falkner.
Wilmar was advised by Allen & Gledhill on the Singapore law aspects and Minter Ellison on the Australian law aspects.
Norton Rose Group was awarded ‘Best Trade Finance Law Firm’ in 2009 and 2010 by Trade Finance Magazine.
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