King & Wood Mallesons has advised Credit Suisse as sole book-running manager and Westpac Banking Corporation as lead manager on the Australian law aspects of a US$335 million high-yield senior secured notes issue by Emeco Pty Ltd.
The 9.875% senior secured notes due in 2019 were offered to qualified institutional buyers in the United States under Rule 144A and certain persons outside the United States in offshore jurisdictions under Regulation S.
Proceeds from the bonds will be used to repay existing US private placement debt and Australian senior bank debt of the Emeco group.
The KWM team also advised Credit Suisse and Westpac on a A$50 million syndicated revolving credit facility for the Emeco Group as well as the intercreditor arrangements for the note and bank debt.
The KWM team was led by Partner Nathan Collins, with support from Cameron Roper and Marcus Wettenhall. This is the third high yield bond issue Nathan Collins has worked on in recent years.
KWM also acted as English counsel to Credit Suisse and Westpac with a team led by Partner Vanessa Docherty. KWM banking and finance Partners Nicholas Creed and Ian Edmonds-Wilson acted for the security trustee and note trustee respectively.
KWM acted as an integrated team with Skadden, Arps, Slate, Meagher & Flom who advised Credit Suisse and Westpac on all aspects of New York law. The Skadden team was led by Partner Adrian Deitz with support from Counsel, Nicole Morath.
KWM coordinated a number of teams on the foreign laws aspects of the bond and bank transactions including Blake, Cassels and Graydon on Canadian law, Mochtar Karuwin Komar on Indonesian law and Carey Abogados on Chilean law.
Grant Samuel acted as the financial advisers to Emeco and Eric Boone and Bryan Paisley of Baker & McKenzie acted as legal advisers to Emeco.
