The Asset Triple A
Infrastructure Awards 2020

Deal awards (Australia and New Zealand)

Australia
Renewable energy deal of the year – Wind
Yandin WF Holding
A$369 million debt facility
Sponsors
Alinta Energy, RATCH-Australia Corporation
Financial adviser
ANZ
Arrangers
ABN AMRO, BNP Paribas, ING Bank, OCBC Bank, Societe Generale, Standard Chartered
Legal advisers
Gilbert & Tobin, White & Case
The 214MW project, upon completion this year, will be the largest wind farm project in Western Australia and is expected to generate a net output equivalent to the annual electricity needs of over 200,000 Western Australian homes
Renewable energy deal of the year – Waste-to-energy
East Rockingham Resource Recovery Facility
A$355 million project financing
Sponsors
Acciona, John Laing Group, New Energy Corporation, Hitachi Zosen Inova Australia, Tribe Infrastructure Group, Abu Dhabi Future Energy Company
Mandated lead arranger, underwriter and bookrunner
Sumitomo Mitsui Banking Corporation
Lenders
Clean Energy Finance Corporation, Australian Renewable Energy Agency
Legal advisers
Allen & Overy, K&L Gates, Pinsent Masons, Herbert Smith Freehills
The project is the second large-scale waste-to-energy to be built in Australia. It is designed to process an initial 300,000 tonnes per annum of municipal solid waste to generate about 28MW of baseload electricity
Green project of the year
NSW Treasury Corporation
A$1.8 billion sustainability bond
Sponsor
State of New South Wales
Lead managers
ANZ, Bank of America, National Australia Bank
Independent ESG reviewers
Sustainalytics, Ernst Young
Legal adviser
King & Wood Mallesons
This is the largest Australian dollar sustainability bond and the first sustainability bond from an Australian semi-government issuer, with the proceeds earmarked towards seven new projects – five green and two social projects – as well as for three existing green projects
Social infrastructure deal of the year
National Housing Finance and Investment Corporation
A$315 million social bond
Sponsor
Government of Australia
Lead managers
ANZ, UBS, Westpac Banking Corporation
Independent ESG reviewer
Ernst Young
Legal adviser
King & Wood Mallesons
The proceeds were loaned to various community housing providers across Victoria, New South Wales, Queensland, Western Australia and Southern Australia, including supporting the supply of more than 360 new social and affordable dwellings
Metals and mining deal of the year
Windfield Holdings
US$770 million syndicated revolving facility
Sponsor
Tianqi Lithium Corporation, Albemarle Corporation
Sole coordinator
HSBC
Mandated lead arrangers
BNP Paribas, Societe Generale
Legal adviser
King & Wood Mallesons
The facility is earmarked to fund the third stage expansion of Talison Lithium producing lithium mine, Greenbusiness in Australia, the largest producing asset of hard rock lithium in the world
Oil and gas deal of the year
Australia Pacific LNG Processing
US$2.55 billion refinancing
Sponsors
ConocoPhillips, Origin Energy, Sinopec International Petroleum Exploration and Production Corporation
Financial adviser
J.P. Morgan
Mandated lead arrangers
ANZ, Bank of China, BNP Paribas, Banco Bilbao Vizcaya Argentaria, Bayfront Infrastructure Capital, CaixaBank, China Construction Bank, Credit Agricole CIB, DBS, HSBC, Industrial and Commercial Bank of China, Korea Development Bank, Mizuho Bank, MUFG Bank, National Australia Bank, Norinchukin Bank, OCBC Bank, Siemens Bank, Societe Generale, Standard Chartered, Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank, United Overseas Bank, Westpac Banking Corporation
ECA
Export Development Canada
Legal advisers
Sullivan & Cromwell, Latham & Watkins, Clayton Utz, Allens Linklaters
This is a refinancing of the project, which delivers a cleaner, greener and more sustainable energy source by supplying gas to domestic and export markets for powering of stations and to major industrial customers, homes and businesses
PPP deal of the year
Pulse Partners Finance
A$2.27 billion senior loan facilities
Sponsors
Pacific Partnerships, DIF Management Australia, BAM PPP PGGM Infrastructure Cooperatives, Ghella Investments and Partnerships
Financial adviser
Macquarie Capital
Mandated lead arrangers
Banco Bilbao Vizcaya Argentaria, Credit Agricole CIB, HSBC, Intesa Sanpaolo, KfW IPEX Bank, MUFG Bank, Norinchukin Bank, Societe Generale, Standard Chartered, Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank
Legal advisers
Corrs Chambers Westgarth, Allens Linklaters
The financing is for the construction of Cross River rail project, one of the largest greenfield and critical public transport infrastructure public-private partnership projects in Australia in 2019. It involves the construction of a twin tunnel, building of four new underground stations and upgrade of two existing above-ground stations
Transport deal of the year - Airport
Sydney Airport Finance Company
A$1.4 billion syndicated sustainability-linked loan facility
Sponsor
Sydney Airport Corporation
Sustainability coordinators
ANZ, BNP Paribas
Bookrunners
ANZ, Bank of America, BNP Paribas, Commonwealth Bank of Australia, Credit Agricole CIB, HSBC, J.P. Morgan, MUFG Bank, National Australia Bank, Royal Bank of Canada, Scotia Bank, Societe Generale
Independent ESG reviewer
Sustainalytics
Legal advisers
Allens Linklaters, King & Wood Mallesons
This landmark transaction is the first of its kind in Australia, the largest across Asia-Pacific and the largest of all airports globally. The issuance enhances the company’s ESG performance by directly linking the airport’s sustainability objectives to its cost of capital
Transport deal of the year – Rail
NRT Finance / NRT CSW Finance
A$2.6 billion stapled project financing
Sponsors
MTR Corporation, Caisse de depot et placement du Quebec, Marubeni Corporation, Plenary Group, Pacific Partnerships
Mandated lead arrangers
ANZ, Credit Agricole CIB, HSBC, ING Bank, Intesa Sanpaolo, KfW IPEX-Bank, Mizuho Bank, MUFG Bank, National Australia Bank, OCBC Bank, Sumitomo Mitsui Trust Bank, United Overseas Bank, Westpac Banking Corporation
Legal advisers
Allens Linklaters, Ashurst, MinterEllison, King & Wood Mallesons
The facility includes the refinancing of Sydney Metro Northwest and the new financing of Sydney Metro City and Southwest line
Utility deal of the year
TransGrid Services
A$355 million debt facility
Sponsor
TransGrid Services
Financial adviser
RBC Capital Markets
Arrangers
ANZ, BNP Paribas, Mizuho Bank, RBC Capital Markets, Societe Generale
Legal advisers
Gilbert & Tobin, King & Wood Mallesons
The financing package supports the delivery of TransGrid pipeline of long-term contracted load and grid transmission connection projects to meet the new infrastructure required to connect the growing influx of renewable electricity to the network in line with Australia’s energy transition
New Zealand
Social infrastructure deal of the year
Kainga Ora – Housing New Zealand
NZ$600 million sustainability bond
Sponsor
Government of New Zealand
Lead managers
ANZ, Bank of New Zealand
Legal adviser
Chapman Tripp
This is the first issuance of so-called well-being bonds, which are essentially sustainability bonds, with the proceeds allocated to both social and green projects, which are aligned with the New Zealand government’s living standards framework and contribute towards meeting the UN Sustainable Development Goals
Telecom deal of the year
Southern Cross Cables
US$75 million project finance facilities
Sponsors
Spark New Zealand, Optus, Singapore Telecommunications, Telstra, Verizon Business
Financial adviser
Cameron Partners
Sole mandated lead arranger
ANZ
Legal advisers
Chapman Tripp, Buddle Findlay, Russell McVeagh
The project involves the construction and operation of new high-speed internet cable connecting Australia, New Zealand and the Pacific with the west coast of the US
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