Global law firm White & Case LLP has represented BlackRock Real Assets, BNP Paribas, Mizuho Bank, Canadian Imperial Bank of Commerce and Royal Bank of Canada as senior lenders in respect of the A$211 million refinancing of Epic Energy.
"This refinancing demonstrates the strong support from the bank and institutional debt market for energy infrastructure in Australia," said White & Case partner Joel Rennie, who led the Firm's deal team. "The refinancing was unique as it comprised a multi-tranche long term debt structure which also delivered Epic Energy the ability to execute its long term business plan to develop its energy infrastructure business".
Epic Energy's foundation asset is the Moomba to Adelaide Pipeline System in South Australia, one of Australia's oldest and longest gas pipelines. It was developed by the Pipelines Authority of South Australia (a Government owned utility) and commenced operation on 28 November 1969, delivering gas from Moomba, in the Cooper Basin, for use in South Australian power generation, industrial and domestic applications. The pipeline was privatized in 1995. It is over 1,100 kms in length (including loops and laterals), receiving upstream supply from all major North Eastern Australia gas basins. Epic Energy's customers include a number of large established integrated energy companies that service electricity power generation, mass market loads, export LNG facilities and major industrial users.
The White & Case team in Australia was led by Partner Joel Rennie who was assisted by Associates Emanuel Blum and Lachlan Barth. Allens Linklaters advised Epic Energy.
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