King & Wood Mallesons advises DBP on bank debt refinancing transaction

King & Wood Mallesons has advised DBP on its AUD745m (£400m) bank debt refinancing transaction, provided by a syndicate of Australian, Asian and Canadian banks.

The funds raised will be applied to refinance nearly 90 per cent of DBP’s term bank debt due to mature in October 2014 along with other bank debt facilities. 

The DBP group of entities purchased the Dampier-to-Bunbury natural gas pipeline in October 2004. It is majority owned by DUET Group (80 per cent), with Alcoa as a 20 per cent minority owner.

The King & Wood Mallesons team was led by banking and finance partner Nicholas Creed, who was supported by solicitor Kirsten Young.

King & Wood Mallesons has acted for DBP on all its major financings since 2004.