11th December 2012
Gilbert + Tobin have advised Credit Suisse in their role as Sole Lead Arranger and Underwriter for the US$325 million financing package provided to Atlas Iron Limited (ASX Code: AGO). The package consists of a US$275 million institutional Term Loan B facility and an AUD$50 million three-year revolving facility.
The transaction was announced yesterday and the package will be used to complete the development of the Mt Dove, Abydos and Mt Webber mines and the Yard 2 expansion works at Utah Point at Port Hedland, ultimately allowing Atlas Iron to meet its Pilbara iron ore production target of 12 million tonnes per annum by December 2013.
Banking + Finance partner James Lewis led the team together with partners John Schembri and Claire Boyd, and lawyers Robert Trowbridge, Katie McCracken, Callista Barrett and Christopher Marchesi.?
Commenting on the transaction, James Lewis said, ?We are delighted to have worked with the Credit Suisse team again on another significant financing in the resources sector. These facilities will enable Atlas Iron to continue the development of its Horizon 1 Assets and shows that there is still US institutional support for the Australian resources sector despite the looming fiscal cliff in the US.?
This transaction highlights the banking and finance team?s continued success in securing major instructions in the resources sector. Recent examples include Gilbert + Tobin?s roles on the US$5 billion secured debt facilities for the Fortescue Metals Group and the US$225 million corporate refinancing facilities provided to OceanaGold Corporation.
Atlas Iron Limited is an independent Australian iron ore company, mining and exporting Direct Shipping Ore from its operations in the Northern Pilbara region of Western Australia. Since listing on the ASX in late 2004, Atlas has grown rapidly and is now a member of the ASX100 index.
About Gilbert + Tobin
Gilbert + Tobin is a leading corporate law firm and a key player in the Australian legal market. We provide innovative, relevant and commercial legal solutions to major corporate and government clients across Australia and internationally, particularly in the Asia-Pacific region. With a focus on dynamic and evolving market sectors, we work on transactions and cases that define and direct the market. Gilbert + Tobin has become the legal adviser of choice for industry leaders who value our entrepreneurial culture and determination to succeed.
Gilbert + Tobin?s reputation for expert advice extends across a broad range of areas including: banking and finance; corporate advisory ? funds, mergers and acquisitions, private equity, capital markets, tax and stamp duty; communications and technology; competition and regulation; energy and resources; intellectual property; media; litigation and dispute resolution; and real estate and projects. Established in 1988, Gilbert + Tobin has the highest proportion of female partners of any major Australian law firm and are acknowledged as a pioneer in providing pro bono services.
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Head of Marketing & BD
Gilbert + Tobin
Tel:?+61 2 9263 4402
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Email: knorlin@gtlaw.com.au
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