King & Wood Mallesons has advised global manufacturing and heavy engineering group, Bradken Limited, on the refinancing of its syndicated bank debt facilities.
The new facilities are unsecured multicurrency facilities of the equivalent of circa A$540m split between three, four and five year maturities and a working capital facility of A$100m.
The cross practice KWM team, led by Banking Partner Yuen-Yee Cho with support from Senior Associate, Chun Wing Yeung and graduate lawyer, Shawn Xin, advised on all aspects of the refinancing and documentation process, including coordinating local counsel advice from US and Canada, and from our network offices in UK and PRC where Bradken has subsidiaries. Partner Scott Heezen and Senior Associate Sara Liu provided tax related advice.
Bradken received strong support on the refinancing from its existing syndicate of domestic and international banks, obtaining tenor extensions of up to 5 years with expected pricing reductions of around 20%.
Allens advised the Bank Group.
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