King & Wood Mallesons acts on renewal of financing facility

King & Wood Mallesons has advised Commonwealth Bank of Australia (CBA) as arranger on the renewal of a $200m, three-year financing facility for engineering and project services company Clough Limited.

CBA was a member of a syndicate of banks providing funding for the new facility, which also included HSBC Bank Australia, National Australia Bank and Export Finance and Insurance Corporation. 

The facility includes an innovative structure for a syndicated letter of credit facility and the KWM role included coordinating with foreign counsel to achieve a cross-border closing.

The King & Wood Mallesons team was led by Partner Nicholas Creed who was supported by senior associate Edmund Chan and solicitor Matthew Cowcher.