Australia's leading independent law firm, Corrs Chambers Westgarth, has advised the dealers and joint lead managers (Australia and New Zealand Banking Group Limited, Barclays Bank PLC, Barrenjoey Markets Pty Limited and Westpac Banking Corporation) on the establishment of Dalrymple Bay Finance Pty Ltd's secured A$ medium term note programme and its inaugural issuance of A$350 million 6.234% fixed rate notes due 24 March 2031 (Notes). The Notes have the benefit of a guarantee from Dalrymple Bay Investor Services Pty Ltd as trustee of the DBT Trust and Dalrymple Bay Infrastructure Management Pty Ltd.
Dalrymple Bay Infrastructure Limited (ASX: DBI) is an Australian infrastructure company that, through its foundation asset, the Dalrymple Bay Terminal (DBT), provides terminal infrastructure and services for producers and consumers of Australian coal exports. DBT is the world's largest metallurgical coal export facility and serves as a global gateway from the Bowen Basin.
Led by banking and finance partner Jo Dodd, alongside head of banking and finance Adam Stapledon, Corrs' DCM team advised the dealers and joint lead managers on all aspects of the transaction.
Commenting on the matter, Jo Dodd said: "We are pleased to have advised the dealers and joint lead managers on DBI's inaugural domestic bond issuance. The strong demand for the Notes, which were two and a half times oversubscribed, is an endorsement of DBI's credit profile and reflects the quality of this transaction as part of DBI's broader capital management strategy.
"This transaction reinforces Corrs' position as a top-tier, trusted adviser on debt capital markets transactions in Australia's infrastructure sector."