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06 Aug 2013

Clayton Utz advises Leighton on A$1 billion syndicated loan

Sydney, 6 August 2013: Clayton Utz has advised Leighton Holdings Limited on a three-year A$1 billion syndicated loan to its subsidiary, Leighton Finance Ltd, that will provide working capital for the Leighton Group.

The A$1 billion commitment was provided by a syndicate of 22 banks from across the Asia-Pacific region led by Australia and New Zealand Banking Group Limited, Mizuho Corporate Bank, Ltd and National Australia Bank Limited as mandated lead arrangers and bookrunners.

The new facility replaces the Leighton Group's previous A$700 million working capital facility.

Clayton Utz Banking partner Brad Allen and senior associate Anne-Marie Cropley advised Leighton Holdings Limited on all stages of the transaction, including settling the mandate letter and the terms sheet with the mandated lead arranger and bookrunners and drafting the facility documentation.

Brad also led the Clayton Utz team that advised Leighton Holdings Limited in connection with its A$1.4 billion three-year syndicated performance bond facility that was announced to the market on 6 November 2012.

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.