Squire Patton Boggs has announced that RATCH–Australia’s green assets refinancing came to a successful financial close on Thursday 1 September 2022.
The financing was backed by RATCH–Australia’s operational clean energy projects located across Queensland and New South Wales: Mount Emerald Wind Farm (180.5MW), Collector Wind Farm (226.8MW) and Collinsville Solar Farm (42.5MW).
It attracted extensive interest from major international banks, including a number of big names such as Deutsche Bank, MUFG, ING, SMBC, Société Générale, DBS and Bank of China.
RATCH-Australia is an independent power producer in Australia and owns an increasing portfolio of power generation assets with a capacity of more than 1.2GW. These consist of gas fired power and renewable energy generation, with assets located across the country. RATCH-Australia is wholly owned by RATCH Group Public Company Limited, listed on the Stock Exchange of Thailand with a market capitalisation of around US$4 billion.
Mr Polagorn Kheosiplard, Chief Executive Officer and Chief Financial Officer of RATCH–Australia said “Together with RATCH-Australia’s other renewables and natural gas firming generators around Australia, this financing will position RATCH-Australia even better to provide the energy and grid security that Australia’s decarbonising economy needs. We commend the Squire Patton Boggs team for their dedication and sterling service which has brought this transaction to completion.”
Squire Patton Boggs finance partner, Hai-Dang Nguyen added “It has been immensely satisfying to accompany RATCH-Australia on its journey towards more clean energy assets. We are honoured to have been entrusted with the cornerstone to their future ambitions.”
Squire Patton Boggs, as deal counsel, played a key role in due diligence, structuring, documentation and execution. The core legal team comprised lead partner Hai-Dang Nguyen, who was supported by partners Tatiana Gotvig, Campbell Davidson, Dannelle Howley, Melissa Koo and Rebecca Heath, tax counsel Louise Boyce, of counsel Kim Hennessy, director Erin Kidd, senior associates Ben Chahoud and Mitch Reynolds and associates Rachel Luo, Poulad Berenjforoush, Jacqueline Tan, Alix Poole, Emma Connolly, Elisa Blakers, Joseph Perkins, Marcus Edwards, David Horton and Hamish Donovan. They worked closely with RATCH–Australia’s financial adviser RBC Capital Markets. Other advisers include KPMG advising on tax, JFA Financial Modelling advising on model audit, Aurora advising on market and RINA acting as technical adviser. The lenders were advised by King & Wood Mallesons.