September 14, 2004 LAWFUEL – Best for law news, legal research, cor…

September 14, 2004 LAWFUEL – Best for law news, legal research, corporate finance, banking law Leading commerical law firm, Phillips Fox has advised St.George Bank Corporate Finance on its senior debt funding of the merger of Australian Electronic Manufacturing Services’ (AEMS) repair and manufacturing businesses. AEMS is owned and controlled by Pacific Equity Partners (PEP).

Rothchilds provided the mezzanine debt funding and Allen Capital Private Equity took a strategic equity stake in the joint venture company.

Finance Senior Associate, Ben Burney, led the Phillips Fox team assisted by Finance Senior Associate, Adam Fuller.

Burney said: “This was a complex transaction involving three layers of funding and existing equity stakes being rolled into a new structure with fresh equity. There were five sets of legal advisers working on the deal. Consequently, the intercreditor issues and negotiations were complex with each of the parties to the transaction having a real interest in the final form intercreditor document. We managed this particularly complicated and key aspect of the documentation through to completion within the timetable set by PEP.”

Clayton Utz (Michael Riches, John Lee and Pru Maloney) acted for PEP. ABL (Paul Rubenstein and Helen Walper) acted for Rothchilds. Minter Ellison (John Mosley and Fraser Henderson) acted for Allen Capital. HDY (Glenn Hughes and Christina Seppelt) acted for Longreach.