Global law firm White & Case LLP has advised a syndicate of 14 international financiers on the AUD$862 million refinancing of the Worsley Co-Generation Power Station in Western Australia.

"The Worsley Power refinancing and the recent Loy Yang B Power acquisition financing demonstrate that there remains good liquidity in the market for appropriately structured thermal power assets in Australia," said White & Case partner Brendan Quinn, Head of Project Finance Asia-Pacific, who led the Firm’s deal team. "Having acted for the financiers on the Worsley Power refinancing and the acquisition financing of Loy Yang B Power, White & Case has advised the financiers on both thermal power financings that have closed in Australia this financial year."

The White & Case team in Australia which advised on the transaction was led by partners Brendan Quinn and Cameron Watson, with support from associates Paul Marshall, Sam Sutton, Mikio Kobayashi and Jessie Huynh. A separate White & Case team consisting of partner Ged Cochrane, with support from associates Alyse Mobrici and Alena Kosmin, advised the exiting agent and financiers. The borrower's financial adviser was Macquarie Capital Advisers and their legal counsel was Allens.