Herbert Smith Freehills advised the syndicate of banks in relation to an unsecured A$500M syndicated facility agreement provided to Colonial First State Wholesale Geared Share Fund (the Fund). The syndicated facility was provided, in part, to refinance certain of the Fund’s existing bilateral financing arrangements.

The mandated lead arrangers and bookrunners (MLABs) were Australia and New Zealand Banking Group Limited and Commonwealth Bank of Australia.

Financial close was achieved on 15 October 2014.

The Herbert Smith Freehills team was led by partner Patrick Lowden, who was supported by senior associate Liam Williams.

“Having acted for the lenders on Colonial’s recent corporate facilities, we were extremely pleased to be able to assist the syndicate achieve a successful financial close in accordance with the timetable set by the MLABs for the Fund’s new facility” said Patrick Lowden.

Allens acted for the Fund.