Herbert Smith Freehills has advised Virgin Australia Holdings Limited, Australia’s second largest airline group, on its US$300 Rule 144A/Regulation S issue of Senior Notes due 2019 (the “Notes”), which completed on 21 November 2014. The issue represents Virgin Australia’s debut issue of unsecured notes in the international debt capital markets.
John Angus, Head of Finance – Australia, led the Herbert Smith Freehills team that acted as US and Australian counsel to Virgin Australia.
Laura Sheridan Mouton, Head of US Capital Markets – Australia, along with Partner Siddhartha Sivaramakrishnan and Kevin Roy, Head of US Securities – Asia, served as US counsel. Partners Matthew FitzGerald and Amanda Wales, and Executive Counsel Mary Boittier led a team of Sydney, Brisbane and Singapore-based Senior Associates and Solicitors, including Thomas Fisher, Anna McEwen, Bishoy Eskander, Bradburn Turner, Jeremy Chase and Sarah Hampson.
Partner Jinny Chaimungkalanont advised on stamp duty matters and Greenwoods & Herbert Smith Freehills Director Andrew Hirst and Senior Associate Julian Pinson advised on Australian tax aspects.
John Angus said: “Having acted as US and Australian counsel in connection with Virgin Australia’s 2013 offering of US$797.2 million enhanced equipment notes, we are delighted to have again assisted our long-standing client Virgin Australia in achieving an outstanding commercial outcome on this senior unsecured transaction.”
Laura Sheridan Mouton said: “It has been a pleasure to work with the Virgin Australia team.
“Herbert Smith Freehills’ debt capital markets team has been extremely active across Asia Pacific markets in recent months. With issuers focused on the diversification of debt funding sources, and the significant debt volumes implicated in many of the current infrastructure transactions, we expect our clients to continue to look to both domestic and international debt capital markets – and Herbert Smith Freehills’ integrated Australian, US and UK law capabilities ensure we are uniquely placed to assist.” Ms Sheridan Mouton continued.
Herbert Smith Freehills’ US Capital Markets team is one of the most active in the Asia Pacific region, having advised on many strategic transactions including State Grid Corporation of China’s Rule 144A/Regulation S offering of US$1.25 billion 2.750% guaranteed senior notes due 2019, US$1.6 billion 4.125% guaranteed senior notes due 2024 and US$650 million 4.850% guaranteed senior notes due 2044 and its Rule 144A/Regulation S offering of US$500 million 1.750% senior guaranteed notes due 2018, US$1 billion 3.125% senior guaranteed notes due 2023 and US$500 million 4.375% senior guaranteed notes due 2043; CNOOC’s Rule 144A/Regulation S global offering of US$1.5 billion 3.875% guaranteed notes due 2022 and US$500 million 5.000% guaranteed notes due 2042; APA Group’s Rule 144A/Regulation S offering of US$750 million 3.875% senior guaranteed notes due 2022; and Maoye International’s Rule 144A/Regulation S offering of US$300 million 7.75% senior guaranteed notes due 2017.
Source: www.herbertsmithfreehills.com
