Banking & Finance
Banking & Finance » Acquisition & Leveraged Finance
Successful outcomes in public M&A and in private equity deals require a super responsive and experienced team of leveraged and acquisition finance lawyers.
The experience and capability of an acquisition finance team have become even more important in recent years, as a thorough understanding of the market terms, deal structures and “hot points” can be critical to the success of a leveraged bid or debt underwriting.
Comprising one of the most respected and successful acquisition finance teams in the Australian market, Corrs has advised on many of the largest leveraged buy-outs, take-privates and acquisition financings in the Australian market.
Corrs advises both senior and mezzanine debt participants, as well as private equity and corporate sponsors/borrowers, on the full range of acquisition financings, including debt funded M&As, privatisations and leveraged buyouts, including MBOs, MBIs and Public to Privates.
Our Experts
Our Experience
Coates Hire take private
The take private of Coates Hire by The Carlyle Group / National Hire Group was at the time the largest ever leveraged buy-out of a publicly listed company and was conducted at the height of the GFC when debt was rare.
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Southern Cross Media acquisition financing
Southern Cross Media Group Ltd’s acquisition of Austereo Group Ltd was the first significant leveraged acquisition financing in the Australian media sector post-GFC.
Corrs advised Southern Cross on the acquisition financing, structuring, documentation and security package.
TPG Telecom acquisition of PIPE Telecommunications
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.
MoreOur Thinking
The break-up of the Eurozone? Implications for Australia
Hopes were high that a resolution to the European crisis could be achieved at last week’s EU summit. However, departure of one or more countries from the Eurozone is a real possibility. We consider what this means for Australia.
More
Eurozone crisis may have a silver lining for Australian infrastructure
The Eurozone crisis is of fundamental concern for global economic stability. How should Australia respond?
MoreOur Experience
Coates Hire take private
The take private of Coates Hire by The Carlyle Group / National Hire Group was at the time the largest ever leveraged buy-out of a publicly listed company and was conducted at the height of the GFC when debt was rare.
The deal involved National Hire establishing a new joint venture vehicle with private equity group Carlyle – NED Group Holdings Pty Ltd, in order to acquire all of Coates shares.
NED Holdings funded the deal from new debt finance and equal equity contributions.
Corrs was instrumental in securing finance for the deal, advising the lead arrangers comprising ABN Amro, ANZ, Calyon, Mizuho, Sumitomo Mitsui and Westpac of $2.2billion senior acquisition debt supporting The Carlyle Group / National Hire Group Ltd’s $2.9 billion scheme of arrangement to successfully go public to private and merge with Coates Hire Ltd.
Southern Cross Media acquisition financing
Southern Cross Media Group Ltd’s acquisition of Austereo Group Ltd was the first significant leveraged acquisition financing in the Australian media sector post-GFC.
Corrs advised Southern Cross on the acquisition financing, structuring, documentation and security package.
The deal which proceeded by way of off-market takeover offer, included a $540 million Equity Bridge Facility provided by Macquarie Bank Ltd and The Royal Bank of Scotland plc, and a $755 million Senior Debt Facility arranged and underwritten by Australia and New Zealand Banking Group Ltd, Commonwealth Bank of Australia and National Australia Bank Ltd.
TPG Telecom acquisition of PIPE Telecommunications
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.
Our Thinking
Eurozone crisis may have a silver lining for Australian infrastructure
The Eurozone crisis is of fundamental concern for global economic stability. How should Australia respond?
The break-up of the Eurozone? Implications for Australia
Hopes were high that a resolution to the European crisis could be achieved at last week’s EU summit. However, departure of one or more countries from the Eurozone is a real possibility. We consider what this means for Australia.
Our Experts
Brad Robinson
Partner Melbourne +61 3 9672 3550
Clare Corke
Partner Melbourne +61396723255
David Beckett
Partner Brisbane +61 7 3228 9318
Jeremy King
Partner Melbourne +61 3 9672 3431
Megan O'Rourke
Partner Perth +61 8 9460 1712
Rommel Harding-Farrenberg
Partner Sydney +61 2 9210 6366