G+T has advised Omni Bridgeway Limited (ASX:OBL), a global leader in litigation financing, on a landmark financing involving the establishment of a A$250 million institutional debt facility.
With operations around the world, Omni Bridgeway is a global leader in financing and managing legal risks, with expertise in civil and common law legal and recovery systems.
The facility has been used in part to redeem its A$76 million listed existing bonds (ASX:OBLHA) and A$72 million wholesale notes prior to their scheduled maturity. The facility also includes an additional commitment of A$102 million of debt capital to enable the company to optimise its medium-term capital management, bringing the total debt facility commitment to A$250 million.
The debt facility was provided by funds managed by Northleaf Capital Partners and Pacific Equity Partners and will allow Omni Bridgeway to move to a more capital efficient mode, creating significant benefits to the company and its stakeholders.
Acting as lead counsel across eight jurisdictions, the G+T team was led by Banking + Projects special counsel Louise McCoach and partner Robert Trowbridge. Louise advised on the complex bond and note redemption, with Robert leading the facility establishment. Assisting Louise and Robert were banking lawyers Mark Nichol, Natan Skinner, Yuka Nagata and consultant Clarke Heap.
Louise McCoach commented, “We are pleased to advise on this transformative refinancing which plays an integral part in Omni Bridgeway’s strategic priorities. The transaction is one of the most complex cross border institutional debt refinancings in the market. Completing this transaction is a great achievement for Omni Bridgeway and we were delighted to have the opportunity to support them on this important milestone transaction.”
“G+T provided us with superb support on this transformational transaction. Its reputation in both public and private debt is well deserved,” said Jeremy Sambrook, Group General Counsel and Company Secretary of Omni Bridgeway.
Gilbert + Tobin’s Debt Capital Markets team is recognised by all leading legal directories including Chambers, Legal 500 and IFLR1000. The team advises issuers, trustees, agents and underwriters on the full spectrum of DCM and Securitisation transactions. Supporting our DCM team is our market leading and internationally recognised Banking + Projects and Equity Capital Markets team. G+T has significant experience advising leading Australian and international financial institutions, investment banks, corporations and private equity funds.