Greencross’ A$1.5 Billion Refinancing

Gilbert + Tobin and Kirkland & Ellis LLP assisted Greencross on the refinancing and the partial sell-down to Australian Super and HOOPP.

Greencross announced a A$1.5 billion cov-lite unitranche refinancing and dividend recapitalization, consisting of a US$553 million term loan tranche and a A$750 million term loan tranche, as well as a first-out A$60 million revolving credit facility.

This financing is one of the first cov-lite unitranche financings in the Australian market and further demonstrates the growing appetite by Australian borrowers to access U.S. debt.

Greencross is Australia’s largest pet care company.

AustralianSuper is Australia’s largest superannuation and pension fund provider. 

The Healthcare of Ontario Pension Plan (HOOPP) provides a lifetime pension plan at retirement.

The G+T team was led by Corporate Advisory partner Rachael Bassil (Picture) with support from lawyers Elizabeth Cameron, Matt Edstein, Matthew Coe, Jack Corcoran and Mason Cohen. The G+T debt financing team was led by Banking + Projects partner John Schembri with assistance from lawyers Corrie Eames, Caitlin Divani and Charlie Wheatley.


Involved fees earner: Rachael Bassil – Gilbert + Tobin; Elizabeth Cameron – Gilbert + Tobin; Matthew Coe – Gilbert + Tobin; Mason Cohen – Gilbert + Tobin; Jack Corcoran – Gilbert + Tobin; Caitlin Divani – Gilbert + Tobin; Corrie Eames – Gilbert + Tobin; Matt Edstein – Gilbert + Tobin; John Schembri – Gilbert + Tobin;

Law Firms: Gilbert + Tobin;

Clients: Greencross Limited;

Sonia Carcano

Author: Sonia Carcano