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Leighton – ECA-backed lease financing
26 March 2010
ANZ innovations for Indonesian coal
MLA: Australia and New Zealand Banking Group (ANZ)
Borrowers: PT Leighton Contractors Indonesia and PT Thiess Contractors Indonesia
Amount: $176 million
Tenor: 5-years
ECAs: EFIC
Lawyers: Freehills, for ANZ and EFIC; Clayton Utz, for Leighton; Soemadipradja & Taher (Indonesian advice and document preparation) |
In this transaction, Australia and New Zealand Banking Group (ANZ) acted as sole mandated lead arranger to structure a tailor-made operating lease financing package for Australia’s Leighton Holdings associated companies and their coal mining operations in Indonesia.
The resultant structure is a $176 million export credit agency (ECA) backed operating lease/lease receivables financing package in favour of PT Leighton Contractors Indonesia and PT Thiess Contractors Indonesia. Both companies are subsidiaries of Leighton Holdings and are involved in contract coal mining operations in Indonesia, primarily in Kalimantan. The funds are being used to buy mining equipment from Germany and the USA. The deal, supported by...
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