Global law firm Ashurst has advised Sandfire Resources Limited (Sandfire) on their entry into a syndicated facility agreement for the establishment of a US$650 million corporate revolver facility. This facility replaces Sandfire's previous two project financings and its previous corporate revolver facility.
Sandfire is one of the largest copper-focused companies on the Australian Securities Exchange (ASX). The refinancing of the debt facilities simplifies Sandfire’s capital structure, reduces ongoing financing costs, and improves available free cash flow in the short to medium term. The facility is unsecured.
Partner Gaelan Cooney said:
"It was a pleasure to assist Sandfire on another financing transaction, one that enables them to transition from project finance and secured lending to a more flexible lending platform on an unsecured basis."
The Ashurst team was led by partner Gaelan Cooney, who was assisted by: senior associate Zoe Woolford and associates Max Evangelisti, Pearson Lindsay, and Lucinda Merrett (Projects & Energy Transition); associate Lucas Pensini (RSSG); partners Irian Saleta Martínez and José Christian Bertram and associates Ignacio Piñeiro and Juan Aznar (Global Loans, Madrid); partner Adrian Lawrence (Projects & Energy transition, London); and senior associate Alec Peschlow (Global Markets, London).
