Stella DHL Finance has refinanced AUD 270m (USD 190) of bank debt backing the International Convention Centre PPP in Sydney.
According to Inframation Deals, a 23-year tenor was attained, running to the end of the concession period for the PPP.
The deal reached its financial close on 2 January, according to sources familiar with the transaction. It was launched in September 2017.
Credit Agricole was syndication agent and bookrunner. CBA was facility agent.
The Sydney International Convention, Exhibition and Entertainment Precinct (SICEEP) consortium comprises super funds HostPlus (50%), First State Super (45%), and Lendlease (5%).
The consortium last refinanced AUD 1.385bn on the Convention Centre in 2015, with 10 banks for a tenor of 5.28 years.
Most of the debt has been repaid.
Herbert Smith Freehills is legal adviser to the consortium, Norton Rose Fulbright advises the banks and Clayton Utz advised the government.