Herbert Smith Freehills has advised Transurban Queensland Finance Pty Limited, the financing vehicle of Transurban Queensland, on a new A$500m institutional term loan comprising tranches with tenors of 10 years and 12 years.
Transurban Queensland will use the funds to repay existing debt.
The Herbert Smith Freehills team was led by partner Jon Evans, who was supported by senior associate Lisa Hamilton and solicitor Jana Mavroidakos.
Jon Evans said, “We congratulate Transurban Queensland on another successful refinancing process. Transurban Queensland has demonstrated the value that can be achieved by tapping into the institutional term loan market in Australia, which can unlock longer tenors than those that are traditionally available in the Australian bank debt market. The transaction also showed the depth of the institutional term loan market for strong borrowers like Transurban Queensland.”