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Allen & Overy advises Ventia on the refinancing in connection with its IPO

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William Kim

Senior Associate

Sydney

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Emma Avery

Senior Registered Foreign Lawyer

Sydney

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Riley Phillips-Harris

Lawyer

Sydney

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17 December 2021

Allen & Overy has advised Ventia Services Group Limited (“Ventia”), one of the largest infrastructure and essential services providers in Australia and New Zealand, on its successful refinancing in connection with the company’s IPO and listing on the ASX and NZX.

Following a successful IPO, Ventia commenced trading on both the ASX and NZX on 19 November.

Ventia is a leading essential infrastructure services provider operating across four sectors: defence and social infrastructure, infrastructure services, telecommunications and transport. 

Ventia’s new AUD750 million syndicated term loan facility refinances its secured TLB debt while working capital capacity is provided by way of a new AUD400 million syndicated revolving cash facility. In addition, Ventia’s ancillary bank guarantee and surety bond facilities were also refinanced.

A&O senior associate William Kim commented: “Ventia’s refinancing and de-levering following its IPO reflects its maturity as a business and has enabled it to move towards favourable terms befitting its public investment grade status. This transaction demonstrates that favourable refinancing terms are available in the current market for high-calibre companies with strong growth potential like Ventia.” 

The A&O team was led by senior associate William Kim, supported by senior associate Emma Avery, lawyers William Khun and Riley Phillips-Harris, graduate-at-law Jodie Llewellyn and Peerpoint consultant Jason Huinink.  

The hedging workstream was led by senior associate Jamie Taylor and the tax workstream was led by partner Ka Sen Wong, supported by senior associate Alice Morstyn

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