Ashurst has advised the lenders (Australia and New Zealand Banking Group Limited and Westpac Banking Corporation) and the security trustee (ANZ Capel Court Limited), on the bank debt refinancing of Adelaide Airport.

The debt funding for Adelaide Airport is a combination of bank debt and bond debt, secured by common securities under a security trust arrangement.  This deal involved the refinancing of Adelaide Airport's existing bank debt from a syndicated facility to bilateral facilities from the same lenders.

Lead Ashurst partner on the matter, Martin Coleman, said: "There is significant investment earmarked for a number of Australian airports. This refinancing demonstrates the strong support for these key infrastructure assets by banks, and assists Adelaide Airport in managing its medium term funding needs."

This transaction is continued evidence of the Ashurst's significant involvement in Australian airport financing.

It also provided the firm another opportunity to work closely with the Melbourne Loans and Syndications team at Westpac and the Project and Structured Finance team at ANZ.

The Ashurst team included partner Martin Coleman and lawyer Campbell Johnston.

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