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 advises NTR plc on 54MW portfolio of co-located solar and battery storage projects in Ireland

Multinational law firm Pinsent Masons has advised NTR PLC on the acquisition of a 54MW portfolio of co-located solar and battery storage projects in County Wexford, Ireland, from renewable energy developer RES.

Pinsent Masons advises on Four Seasons Care Homes portfolio migration

Multinational law firm Pinsent Masons has advised propco investor LDC Care Homes and its asset and investment manager Elevation Advisors on the migration of a care homes portfolio from Four Seasons Health Care Group (FSHC) to new operators.

Pinsent Masons advises Teva Pharmaceuticals on €84m sale of its consumer healthcare brand portfolio to Karo Pharma AB.

Multinational law firm Pinsent Masons has advised Teva Pharmaceuticals’ subsidiary, Actavis Group PTC, on the successful €84m sale of a suite of consumer healthcare products to Karo Pharma AB (Karo).

People who viewed this press release also viewed

Show me all press releases

Pinsent Masons advises NTR plc on 54MW portfolio of co-located solar and battery storage projects in Ireland

Multinational law firm Pinsent Masons has advised NTR PLC on the acquisition of a 54MW portfolio of co-located solar and battery storage projects in County Wexford, Ireland, from renewable energy developer RES.

Pinsent Masons appointed to UK Government Trade Law Panel

Multinational law firm Pinsent Masons has been appointed to the UK Government's new Trade Law Panel in an international consortium with BakerHostetler in the USA, and Fasken in Canada, to advise on international trade law disputes.

Pinsent Masons wins Belt and Road Deal of the Year and Overseas Deal of the Year awards at the China Business Law Awards

Multinational law firm Pinsent Masons has won Belt and Road Deal of the Year and Overseas Deal of the Year awards for the firms work on the Red Sea Tourism Mega Project in Saudi Arabia and Mexico City's Subway Line Construction Project respectively.

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