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TPG Telecom Limited’s acquisition of PIPE Communications Limited represented one of the first sub-investment grade acquisition financings with a sole lead underwrite by an Australian trading bank since the global financial crisis.
Corrs’ strong capability in acquisition and leverage finance helped sole lead arranger and underwriter, Australia New Zealand Banking Group, deliver a successful outcome in the A$380 million acquisition financing.
The Corrs role included full documentation of the senior facility agreement, security package and interest rate swaps, together with detailed due diligence on the target group’s telecommunications cable assets.
This also involved project finance elements.