Ashurst has advised Ixom Pty Limited (Ixom) on its Australian syndicated facilities and the refinancing of its existing US Term Loan B financing.

The firm has been advising Ixom on various financing matters since the firm counselled Blackstone on its acquisition of Orica's chemical business in 2015 that was funded by US Term Loan B financing. Blackstone and Ixom elected to refinance the US Term Loan B in the Australian loan markets, and the syndicated facilities have been made available for the purposes of refinancing certain existing debt and related transaction costs; general corporate purposes; and funding growth capital expenditure and permitted investments of the Ixom group.

A key driver for the refinancing transaction includes supporting the view that an Australian dollar revenue business can achieve better "all in" pricing in the Australian loan market. The deal builds on Ashurst's work with Blackstone on the original Ixom acquisition, which was Blackstone's first completed non-real property deal in Australia. The transaction also demonstrates Ashurst's core strength in the leverage and acquisition finance space, and demonstrates the firm's ongoing relationship with Blackstone and Ixom.

The lead partner on the deal was Shawn Wytenburg. Shawn was assisted by senior associates Nichola Shaw, Alison Sawers and Chun Wing Yeung; lawyers David Walker and Robert Lau; and graduate Adam Watterson (Banking); partners Paul O'Donnell and Barbara Phair; senior associates Marcus Ryan and Elke Scevak (Tax); and senior associate Michael Orban (Corporate).