Pinsent Masons advises Australian Gas Infrastructure Group on its landmark A$4 billion debt programme

13 Nov 2020 | 11:56 am | 1 min. read

Multinational law firm Pinsent Masons advised Australian Gas Infrastructure Group (AGIG), one of the largest gas infrastructure businesses in Australia, on its new funding vehicle and secured AUS$4 billion debt programme.

The Pinsent Masons banking and finance team advising on the transaction was led by partner Jim Hunwick, senior associate David Kennedy and lawyers Jesse McNaughton and Katie Murray and included assistance from partner Jeremy King, legal director Michael Capsalis and graduate lawyer Abigail Gedge.

The new funding vehicle and secured debt programme will fund AGIG’s Multinet, Dampier to Bunbury Pipeline and AGI Developments businesses and achieve a ratings upgrade, replacing three separate pre-existing programmes. Pinsent Masons drafted and negotiated all documentation necessary for AGIG to establish new common funding terms, intercreditor arrangements and a security package to enable AGIG to consolidate its existing debt programmes into a new secured debt programme and to source future debt under this new programme. The new debt programe enables debt to be sourced from domestic and international debt and capital markets on the same common terms, at a rating of A3 by Moody’s and BBB+ by S&P.

This is a landmark transaction for AGIG, which is the most significant debt project undertaken by AGIG to date. The transaction saw the integration of around A$4 billion of debt from the three different debt programmes, comprising domestic and international bank facilities, Australian Medium Term Notes, US privately placed notes and hedging arrangements, into the new programme.

Commenting on the deal, banking and finance partner Jim Hunwick said: “We congratulate AGIG on taking the initiative to transform its senior debt arrangements into a new, market-leading multi-platform debt programme and on achieving its ratings upgrade.”

As well as devising the new structure, Pinsent Masons drove a large and complex process that included obtaining consents from refinancing and agreeing documents with around 100 counterparties to vary and integrate the existing debt instruments into the new structure. The firm also acted on the first debt issuances out of the programme, being an AMTN issuance and a bilateral facility.

“This huge project showcases the expertise, depth of talent and commitment available to borrowers and financiers who choose to engage the Pinsent Masons finance team in Australia,” he added.

Key Contacts

Latest press releases

Show me all press releases

Pinsent Masons appoints fourth partner in Amsterdam with life sciences patent specialist

Multinational law firm Pinsent Masons has recruited partner András Kupecz to its European life sciences team, further bolstering its Netherlands-based technology, science and industry capabilities.

Pinsent Masons advises Photon Energy N.V. and Bankhaus Scheich Wertpapierspezialist AG on EUR 55m GREEN bonds

Multinational law firm Pinsent Masons has advised Photon Energy N.V. and Bankhaus Scheich Wertpapierspezialist AG on the issuance of EUR 55m 6.50% GREEN bonds due 2027.

Pinsent Masons wins International Law Firm of the Year and ADR Team of the Year at the Qatar Business Law Forum Awards 2021

Multinational law firm Pinsent Masons has been named International Law Firm of the Year and ADR Team of the Year at the Qatar Business Law Forum Awards 2021.

People who viewed this press release also viewed

Show me all press releases

Pinsent Masons advises Photon Energy N.V. and Bankhaus Scheich Wertpapierspezialist AG on EUR 55m GREEN bonds

Multinational law firm Pinsent Masons has advised Photon Energy N.V. and Bankhaus Scheich Wertpapierspezialist AG on the issuance of EUR 55m 6.50% GREEN bonds due 2027.

Pinsent Masons advises syndicate banks on the €30m capital increase of Enapter AG

Multinational law firm Pinsent Masons has advised four syndicate banks, Bryan, Garnier & Co. (Sole Global Coordinator), Pareto Securities AS, Clarksons Platou Securities AS (Joint Bookrunners) and First Berlin Securities Brokerage GmbH (Placement Agent), on the successful EUR 30m capital increase of Enapter AG.

Pinsent Masons wins Construction Law Firm of the Year at Asian Legal Business Awards for eighth consecutive year

Multinational law firm Pinsent Masons MPillay has been named Construction Law Firm of the Year at the Asian Legal Business (ALB) SE Asia Law Awards 2021. This is the 8th consecutive year the firm has won the awards, and the 9th since 2010.

For all media enquiries, including arranging an interview with one of our spokespeople, please contact the press office on

+44 (0)20 7418 8199 or 

Location contacts