Allens has advised Vocus Group Limited on a refinancing of its A$1.225 billion and NZ$135 million syndicated bank debt facilities.
The new facilities, which carry a weighted average tenor of 3.5 years, will extend the duration of Vocus’ debt to provide ongoing financial stability and flexibility.
Vocus is a leading specialist fibre and network solutions provider, which owns and operates a terrestrial and subsea network of approximately 30,000 km of high performance and high availability fibre-optic cable throughout Australia, New Zealand and the wider Asia Pacific region.
‘We congratulate the Vocus team on a great result,’ said lead Partner Warwick Newell.
‘This refinancing provides Vocus with an excellent platform to drive its growth initiatives over the coming years.’
This transaction continues Allens’ relationship with Vocus, with the firm having advised on Vocus’ acquisition of Nextgen Networks and its merger with M2 Group.
Vocus’ refinancing affirms the trend of successful refinancings occurring in the telecommunications sector, with Allens continuing to provide support to clients on significant refinancing deals despite the current period of disruption.