Gilbert + Tobin has advised a number of domestic and foreign financial institutions on a series of five year bilateral revolving credit facilities for Iluka Resources (“Iluka”) totalling $800 million.
Senior Banking + Finance partner Nicholas Grambas led the team, assisted by fellow partner Alexander Danne, and lawyers Daniel Yim and Robert Trowbridge.
“We are delighted to be involved in such a major, innovative financing in the current bank market.” said Nicholas Grambas.
“Whilst the US PP market is an increasingly attractive source of debt capital, the Iluka financing demonstrates that a dynamic bilateral process with a well structured financing package can deliver competitive bank debt funding in terms of level, tenor and pricing.” said Nicholas Grambas.
The process was managed by Iluka’s financial adviser, Mr Robert Jenkins at Grant Samuel.
Iluka primarily focuses on the exploration, project development, operation and marketing of mineral sands products. Its main assets and operations are located in Australia, with a mining and process operation in Virginia, USA.
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