Refinancing completed for Eastern Distributor M1 toll road in Sydney
Transurban has raised AUD 302 million (US$ 214.05 million) of non-recourse debt via a new bank debt facility with a tenor of 3.25 years for Eastern Distributor M1 toll road PPP in Sydney. Transurban owns a 75.1% interest in the the PPP project.
M1 is a 6 km toll road forming a key link in Sydney’s orbital road network, linking north Sydney via the Sydney Harbour Tunnel and Sydney Harbour Bridge, and Sydney’s CBD with Sydney Airport and the city’s southern suburbs. The M1 benefits from a 48 year concession to 2048.
The funds raised will be used to repay an existing AUD 300 million (US$ 212.63 million) debt issued by the project company in 2013. The interest rate exposure has been hedged for the term of the new bank debt facility.
Herbert Smith Freehills acted as financial advisor for Transurban on refinancing of the the PPP project.
Country news
-
-
October 06, 2020
Preferred bidder for AUD 1 bn hospital PPP in Australia
Plenary Health consortium has been announced as the preferred bidder to enter into an exclusive negotiation with the Victorian Government to deliver the new Footscray Hospital in Australia- the largest ever health infrastructure investment in the state.
Read more -
September 24, 2020
RFEOI launched for Frankston Hospital Redevelopment PPP
Victorian Health and Human Services Building Authority in Australia has launched a request for expression of interest seeking a private developer for redevelopment works of Frankston Hospital in Victoria.
Read more -
September 24, 2020
RFEOI launched for Frankston Hospital Redevelopment PPP
Victorian Health and Human Services Building Authority in Australia has launched a request for expression of interest seeking a private developer for redevelopment works of Frankston Hospital in Victoria.
Read more -
September 23, 2020
Preferred bidder selected for privatization of Adelaide's passenger rail network
The government of South Australia has selected the JV by French group Keolis and the Australian company Downer for the privatization of Adelaide's passenger rail network.
Read more -
May 21, 2020
Final train enters service on AUD4.4bn rollingstock project in Australia
John Laing Group (John Laing) has announced that the final New Generation Rollingstock (NGR) train has been accepted and entered into passenger service in Queensland, Australia.
Read more
