Australia
HWL Ebsworth is advising Australian shopping mall developer Westfield Group on a $20 billion loan to finance the company’s proposed restructuring. As part of the arrangement, Westfield Group plans to split off its Australia and New Zealand properties from its international ones. The business in Australia and New Zealand will become the Scentre Group, while the international business will operate as the Westfield Corp. The loan comprises a $13 billion two-year facility and a number of other facilities totaling $7 billion, with terms ranging from two to six years. Allens Sydney partner Diccon Loxton is leading a team representing a syndicate of 20 lenders. [Read full story]
