By Joanna Sampson2020-12-23T10:00:00+00:00
One of BOC South Pacific’s goals for 2020 was to continue working with customers in the emerging hydrogen and clean energy sectors.
“This goal is very much alive, and we are actively working on a number of key projects across the region,” John Evans, Managing Director of BOC South Pacific, told
gasworld in the latest interview from our
A Christmas Twist: The 12 Days of Content series.
Two recently announced projects include a new hydrogen offtake agreement with the Australian Gas Infrastructure Group (AGIG), which will allow BOC to supply renewable hydrogen produced at the HypSA Hydrogen Project in South Australia to customers in South Australia and Western Australia. It will also help decarbonise part of BOC’s argon operations.
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Allens advises on $4.2bn WestConnex refinancing
Allens has advised the lenders on WestConnex’s $4.2 billion refinancing, which reached financial close on 18 December 2020.
The $4.2 billion of new non-recourse debt comprises $3 billion of bank term debt facilities with tenors of three, five and seven years, and a $1.2 billion two-year bridge facility. The interest rate exposure on the term debt facilities will be fully hedged.
Along with refinancing WestConnex’s debt in respect of its M4 Asset, the refinancing restructures the previous debt structure by introducing a group funding platform to which other WestConnex assets could be added in future.
‘It was a privilege to advise what was a very large group of lenders on this novel refinancing structure, which will streamline existing debt to provide WestConnex and its Sponsors with a more versatile funding platform for the future,’ said lead Partner and Head of Project Finance Michael Ryan.