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.

Latest press releases

Show me all press releases

Pinsent Masons launches in Luxembourg

Multinational law firm Pinsent Masons has expanded into Luxembourg, launching a full-service law firm, having recruited a significant number of former Wildgen partners and their teams.

Pinsent Masons appoints Pamela McDonald as new head of its Doha office

Multinational law firm Pinsent Masons has named international arbitration partner Pamela McDonald as the new head of its Doha office.

Multiple wins for Pinsent Masons at China Business Law Awards 2022

Multinational law firm Pinsent Masons has won in seven categories at China Business Law Journal's annual awards.

People who viewed this press release also viewed

Show me all press releases

Multiple wins for Pinsent Masons at China Business Law Awards 2022

Multinational law firm Pinsent Masons has won in seven categories at China Business Law Journal's annual awards.

Pinsent Masons advises Ørsted on its entry into the Spanish renewables market

Multinational law firm Pinsent Masons has advised Ørsted on its first four renewables’ partnerships in Spain.

Pinsent Masons advises Scottish Widows on £320m buy-in of the De La Rue pension scheme

Multinational law firm Pinsent Masons has advised Scottish Widows on a £320m buy-in with the trustee of the De La Rue pension scheme.

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