Norton Rose, Minter Ellison and Allen & Gledhill have advised on the loan facilities granted to fund the acquisition of Australian sugar producer Sucrogen (formerly CSR's sugar and renewable energy business) by Wilmar International, one of the largest listed companies by market capitalisation on the Singapore Stock Exchange.

The combined loan facilities of almost US$2bn – separated into two loans of US$1.3bn and US$597m, respectively – was made through a syndicated arrangement by ANZ, HSBC and Cooperative Centrale Raiffeisen-Boerenleenbank B.A. The US$1.3bn term loan facility will be used to finance the acquisition of Sucrogen whilst the US$597m revolving credit facility was used to meet the general corporate and working capital requirements of Sucrogen.

Sucrogen is the largest raw sugar producer and refiner in Australia and the eighth largest producer globally, as well as being a major player in renewable energy.

The transaction is typical of a growing number of deals taking place between Australia and Southeast Asia.

"The transaction is another example of a major investment by leading regional companies into the Australian commodities sector with funding being arranged regionally by major international banks. With the Asia-Pacific region currently at the forefront of global growth, we expect that trend to continue," Norton Rose lead partner of the Australian team Dan Marjanovic said.

Wilmar was advised by Allen & Gledhill on Singapore law aspects and Minter Ellison on Australian law.ALB

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