Candace Hennessy
Clayton Utz
Special Counsel
Sydney
Overview
Candace has been a banking and finance specialist in the top tier of private practice for nearly 15 years. Her experience spans across Africa and Australia, with eight years of private practice in Australia. Candace has experience in a wide variety of banking and finance transactions, having represented market-leading clients on both the lender and borrower side in Australia and within international markets (Europe, North America and Asia-Pacific).
Her areas of specialisation include leveraged/acquisition financing, corporate financing, fund financing, property financing, asset financing and receivables financing.
Notable Work
- Reece Limited – US Private Placement Providers: acted for two US private placement (USPP) providers in respect of a US$300 million unsecured note issuance by Reece Limited in the USPP market. The notes issuance enabled Reece to diversify funding sources, reduce variable interest rate exposure and increase overall debt maturity profile.
- Carsales.com – Goldman Sachs and Morgan Stanley / NAB (as Agent) and a 10 Bank Syndicate: acted for the underwriters, arrangers and lenders in connection with the underwrite and refinance (under a common terms deed platform) of the Carsales.com group A$1.6 billion debt financing package on a certain funds basis, including in relation to the acquisition of Trader Interactive in the United States. .
- Koda Capital – Emigrant Partners: advised Emigrant as an investor in Koda Capital, by way of a secured participating loan, thereafter providing further debt financing to Koda Capital to fund strategic acquisitions.
- Crown Resorts Limited – Blackstone Inc.: advised Blackstone on its acquisition of Crown Resorts Limited, via scheme of arrangement at a price of A$13.10 per share. Blackstone funded the transaction by means of equity and debt funding. The debt funding comprised a unitranche structure involving $5.4 billion senior secured term debt and a $500 million super senior revolving credit facility.
- AAF – Westpac Banking Corporation and Wingate Funds Management: acted for the lenders in respect of the A$150 million secured financing of Angle Auto Finance, one of Australia’s largest auto financiers. The financing provided for the acquisition/subscription of debt securities by Angle Auto Finance in the context of strategically furthering its securitisation activities.
- MaxCap – Westpac Banking Corporation: acted for the lender in respect of its A$75 million secured financing of MaxCap Group, one of Australia’s leading real estate investment managers and a strategic investment partner of Apollo. The facilities were provided for MaxCap’s expansion of its financing and co-investment capabilities.
- Close the Loop – Pricoa Private Capital, acting through PGIM Inc. and its associated credit funds: acted for Pricoa in their provision of US$57.5 million of acquisition and corporate finance facilities to ASX listed Australian company Close the Loop, which provides sustainability solutions to enhance corporate social responsibility programs to minimise waste and build a circular economy.
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