North East Link Institutional Debt
October 2021 – Spark Consortium (WeBuild, GS E&C, CPB Contractors, China Construction Oceania, Ventia, Capella Capital, John Laing, DIF and Pacific Partnerships) successfully closed Australia’s largest Public Private Partnership (PPP), the Primary Package for the North East Link road/tunnelling project in Melbourne. DTW Capital acted as the consortium’s exclusive Institutional Debt Adviser for the institutional debt component of the project’s overall A$11.1 billion financing.
DTW’s key work streams included: advising Spark on the pre-bid terms, structure, pricing and execution process for the institutional debt; identifying potential debt investors and coordinating the investors’ investment process. The NEL institutional debt investors included a syndicate of leading global institutional investors.
This is the first greenfields institutional funding for an Australian PPP since OSARs West in 2017.
