Coal play WICET taps King & Wood Mallesons for $3b refi
King & Wood Mallesons has been appointed to lead a Queensland coal port through a complex $3 billion ($US2 billion) refinance in a crucial test of lenders’ commitment to environmental, social and governance policies, Street Talk understands.
Wiggins Island Coal Export Terminal (WICET) is owned by resource companies including one of Australia’s biggest coal miners Glencore, Coronado Curragh and Yancoal. Its senior debt, held by a large syndicate including ANZ, Westpac, Deutsche Bank and US private equity giant Varde Partners, is due to mature in 2026.
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