Allens has advised the Northwest Rapid Transit (NRT) consortium on the financial close of the $3.7 billion Public-Private Partnership (PPP) for the next stage of Australia's biggest public transport project, Sydney Metro.

The complex transaction involved multiple elements, including securing the refinancing and extension of the original PPP contract and raising debt and equity to finance it

'This transaction supports Australia's biggest public transport project and was also Plenary's largest ever refinancing,' said Emma Warren, lead Partner.

The transaction involved 35 different institutions for the senior debt and equity financing, including key global financiers, consortium members including MTR and major infrastructure investors such as Caisse de dépot et placement du Québec, Marubeni, Plenary and Pacific Partnerships.