Ashurst has advised Downer EDI Limited (Downer) and Spotless Group Holdings Limited (Spotless) on the refinancing of their syndicated corporate debt facilities to the value of A$1.3 billion, which compromised A$400 million for Downer and $900 million for Spotless.

The new facilities are available for general corporate purposes.

Global Loans partner, Brenton Key, and Global Loans counsel, Nichola Shaw, both commented "We were delighted to advise the Downer Treasury team again and to act for the Spotless Treasury team for the first time on these important and very successful transactions for both groups. The Treasury and Ashurst teams worked tirelessly to achieve successful close and within a relatively short time-frame."

Client relationship partner Mark Stanbridge also commented, "These milestone transactions build on our excellent institutional relationship with the Downer group and follow on some other recent significant strategic transactions we have acted on for them, including its acquisition of a majority stake in the Spotless group last year."

The team was led by partner Brenton Key and included counsel Nichola Shaw, senior associates Rashi Lordan and Adiel Potgieter, lawyers Andrew Vumbaca, Courtney Chu, Jonny Hugh and graduates Mitch Bazzana and Mathew Velcic (Global Loans); partners Sarah Dulhunty and Anton Harris and lawyer Alli Clark (Corporate); counsel Joseph Chow (Global Markets); and partners Vivian Chang and Sanjay Wavde, senior associate Elke Bremner and lawyer Tony Zhou (Tax).

The deal closed on 15 May 2018.