For over half a century, Sullivan & Cromwell has advised numerous leading Australian and New Zealand enterprises in the finance, resource, telecommunications, consumer, infrastructure and other sectors on their most significant and challenging capital raisings, acquisitions and dispositions, both within and beyond the region.  We also advise enterprises from around the world on transactions and projects that concern assets in and around Australia. Select highlights of our representations include:
  • The underwriters to Amcor in its US$500 million offering of guaranteed senior notes in 2018.
  • ANZ Bank New Zealand in the establishment of, subsequent updates to and offerings of its US$10 billion medium term notes program.
  • APA Group in its:
    • US$850 million Rule 144A/Reg. S offering of guaranteed senior notes in 2017.
    • US$1.4 billion Rule 144A/Reg. S offering of guaranteed senior notes in 2015.
  • ASB Bank in the establishment of, subsequent updates to and offerings of its US$10 billion senior medium term notes program and US$7 billion commercial paper program.
  • The underwriters to Ausgrid Group in its US$1 billion offering of guaranteed senior notes in 2018.
  • Australia and New Zealand Banking Group in the establishment of, subsequent updates to and offerings of its US$30 billion covered bond program, US$25 billion medium term notes program and US$20 billion Section 3(a)(2) program.
  • Australia Pacific LNG in its project financings, including its US$3.15 billion refinancing in 2019 and US$1.4 billion refinancing in 2018.
    • The 2018 US private placement debt financing was the first for an LNG project in the Asia-Pacific region and was awarded “Midstream Oil & Gas Deal of the Year” by IJGlobal and highly commended in Legal Expertise - Accessing New Markets and Capital in the FT Innovative Lawyers Asia-Pacific Report.
  • Bank of New Zealand in the establishment of, subsequent updates to and offerings of its medium term notes program, a sub-program of National Australia Bank’s US$100 billion medium term notes program.
  • BHP Billiton in various transactions, including its US$6.4 billion Rule 144A/Reg. S offering of hybrid notes in 2015, which was the largest ever hybrid debt offering by a resource company and the second-largest ever corporate hybrid debt offering by any issuer.
  • BlueScope Steel in its US$500 million Rule 144A/Reg. S offering of senior unsecured high-yield notes in 2016.
  • Charter Hall Group and certain of its managed funds in various transactions, including:
    • Core Logistics Partnership Trust in its A$200 million offering of guaranteed senior secured notes in 2018. 
    • Charter Hall Prime Office Fund in its A$305 million offering of guaranteed senior unsecured notes in 2018.
    • Charter Hall Prime Industrial Fund in its offerings of A$230 million and A$150 million of guaranteed senior unsecured notes in 2018 and US$230 million and A$50 million of guaranteed senior unsecured notes in 2017.
    • Charter Hall Property Trust in its offerings of US$175 million of guaranteed senior unsecured notes in 2018, A$275 million of stapled securities in 2017 and A$225 million offering of stapled securities in 2015.
    • Long WALE Investment Partnership Trust in its A$200 million offering of guaranteed senior secured notes in 2017.
    • Charter Hall Retail REIT in its offerings of US$235 million of guaranteed senior unsecured notes in 2016 and US$200 million of guaranteed senior unsecured notes in 2015.
  • Commonwealth Bank of Australia in various transactions, including:
    • the establishment of, subsequent updates to and offerings of its US$50 billion medium term notes program, US$30 billion covered bonds program, US$25 billion Section 3(a)(2) program and US$35 billion commercial paper program.
    • its US$1.25 billion Rule 144A/Reg. S offering of subordinated notes in 2018
      • The longest-maturity benchmark Tier 2 bond issued by an Australian bank in any currency.
    • its A$5.1 billion Rule 144A/Reg. S rights offering of ordinary shares in 2015.
      • The second-largest rights offering by an Australian issuer in history.
  • Computershare in its offering of US$550 million of guaranteed senior unsecured notes in 2018.
  • Coronado Global Resources Inc. in its A$773 million IPO and listing on the Australian Securities Exchange in 2018.
    • The largest global mining IPO since June 2011 and the largest ever IPO of a US company on the Australian Securities Exchange.
  • The creditors of Emeco  on its recapitalization and triple merger with Orionstone and Andy’s Earthmovers through an Australian scheme of arrangement and US filing under Chapter 15 of the Bankruptcy Code in 2017, including its A$361 million offering of guaranteed senior secured notes conducted pursuant to Section 3(a)(10).
  • Fortescue Metals Group in various transactions, including its:
    • US$500 million Rule 144A/Reg. S offering of senior unsecured notes in 2018.
    • US$1.5 billion Rule 144A/Reg. S offering of senior unsecured high-yield notes in 2017.
    • US$2.3 billion Rule 144A/Reg. S offering of senior secured high-yield notes in 2015.
  • Goldman Sachs Group with respect to its A$10 billion “Kangaroo bonds” Reg. S program.
  • The underwriters to  Goodman Australia Industrial Partnership in its debut Rule 144A/Reg. S offering of US$600 million of guaranteed senior notes in 2016.
  • The underwriters and dealer managers to Goodman Group on its:
    • its US$850 million and €500 million Rule 144A/Reg. S offerings of guaranteed senior notes in 2017.
    • the repurchase of US$545 million of its Rule 144A/Reg. S guaranteed senior notes through modified Dutch auction tender offers and £129 million of its Reg. S notes through an any-and-all tender offer in 2017.
    • its US$481.6 million Rule 144A/Reg. S exchange offering of guaranteed senior notes in 2017. 
    • its US$600 million debut Rule 144A/Reg. S offering of guaranteed senior notes in 2016.
  • Incitec Pivot in establishing its US$400 million US syndicated facility and refinancing of its existing A$568 million and US$553 million Australian syndicated facilities in 2015.
  • Inghams Group in its A$596 million Rule 144A/Reg. S global IPO and listing on the Australian Securities Exchange in 2016.
  • Lendlease International Towers Sydney Trust in its debut offering of US$225 million and A$70 million of guaranteed senior unsecured notes in 2019.
  • Macquarie Bank in its US$750 million Rule 144A/Reg. S offering of subordinated notes in 2017 and repurchase of US$174 million of its Rule 144A/Reg. S subordinated notes through a modified Dutch Auction tender offer in 2016.
  • Mineral Resources in its US$700 million debut Rule 144A/Reg. S offering of senior unsecured high-yield notes in 2019.
  • The underwriters to MYOB Group in its A$833 million Rule 144A/Reg. S global IPO and listing on the Australian Securities Exchange in 2015.
  • Newcastle Coal Infrastructure Group in various transactions, including its US$500 million debut Rule 144A/Reg. S offering of senior secured notes in 2017.
  • National Australia Bank in:
    • the establishment of, subsequent updates to and offerings of its US$100 billion medium term notes program, US$30 billion covered bond program and US$25 billion Section 3(a)(2) program
    • its A$5.5 billion Rule 144A/Reg. S rights offering of ordinary shares in 2015.
      • The largest rights issuance in Australian history at the time.
  • QBE Insurance Group in its tender offer and consent solicitation for its US$195.2 million fixed rate senior notes due 2022 and its US$399.9 million Section 4(a)(2)/Reg. S exchange offering of subordinated notes in 2016.
  • The underwriters to Reliance Worldwide Corporation in its A$919 million IPO and listing on the Australian Securities Exchange in 2016.
  • Suncorp-Metway in the establishment of, subsequent updates to and offerings of its US$15 billion senior medium term notes program.
  • The underwriters to Sydney Airport Group in various transactions, including its: 
    • US$900 million Rule 144A/Reg. S offering of guaranteed senior secured notes in 2016.
    • US$500 million Rule 144A/Reg. S offering of guaranteed senior secured notes in 2015.
  • Telstra Corporation in various transactions, including:
    • US aspects of its US$697 million acquisition of Pacnet in 2015.
    • its US$1 billion Rule 144A/Reg. S offering of senior unsecured notes in 2015.
  • Woodside Petroleum in various transactions, including its:
    • US$1.5 billion Rule 144A/Reg. S offering of senior unsecured notes in 2019.
    • US$800 million Rule 144A/Reg. S offering of senior unsecured notes in 2017.
    • US$800 million Rule 144A/Reg. S offering of senior unsecured notes in 2016.
    • US$1 billion Rule 144A/Reg. S offering of senior unsecured notes in 2015.
  • The underwriters to Viva Energy Group in its IPO and listing on the Australian Securities Exchange in 2018.
    • The largest non-privatization IPO in Australia history.