Stuart Cormack
PartnerExpertise
Biography
Stuart is a partner in the Banking + Projects group.
Stuart has experience across a broad range of areas in banking and finance with a focus on leveraged and acquisition finance, unitranche and institutional debt financings, general corporate lending, sustainability linked and green lending, infrastructure, project financing and PPPs and real estate finance.
Stuart started his career in Gilbert + Tobin’s Banking + Infrastructure team in 2010. In 2014, he moved to the Banking team in the London office of Linklaters where he became a Managing Associate. Stuart’s 3 years at Linklaters also included a secondment to the Commercial and Syndicated Lending team at the Royal Bank of Scotland in London. Stuart returned to Gilbert + Tobin in 2017.
Experience
Stuart’s experience includes advising:
- Acting for various lenders in connection with the debt financing for Blackstone’s c. $8.9 billion acquisition of the shares in the Crown Resorts Group by way of scheme of arrangement.
- Acting for ANZ, MUFG, UOB and SCB as mandated lead arrangers and underwriters in relation to the c. A$2.3 billion acquisition facilities for ESR Australia’s acquisition of the $3.8 billion Milestone Logistics Portfolio, which is the largest direct real estate acquisition transaction done in the Australian market to such date.
- Acting for KKR in relation to its A$2 billion US Term Loan B financing in relation to its acquisition of 55% of Colonial First State from CBA.
- Acting for Macquarie Infrastructure and Real Assets and its managed funds in relation to the Term Loan B facilities to fund its A$2.3 billion public to private acquisition of Bingo Industries Limited.
- Acting for Deutsche Bank and Credit Agricole as Sustainability Coordinating Banks and various lenders in relation to AirTrunk’s A$2.1 billion Sustainability Linked Loan facilities, the largest Sustainability Linked Loan for a data centre globally, the first Sustainability Linked Loan by a data centre operator in the Asia-Pacific region and the second largest Sustainability Linked Loan completed in Australia for any sector.
- Acting for Deutsche Bank AG, Sydney, London and Singapore Branches as mandated lead arrangers and underwriters in relation to the c. A$1.53 billion refinancing, construction and working capital facilities for the AirTrunk Group in connection with its acquisition by Macquarie Infrastructure and Real Assets.
- Acting for Canberra Data Centres in relation to its c. A$1.5 billion refinancing of its primary corporate debt facilities, including capital expenditure and working capital facilities.
- Acting for The Lenders to Snowy Hydro in relation to various corporate debt facilities, and its c. $3.5 billion debt facilities in connection with Snowy 2.0 development.
- Acting for various Lenders to ESR in relation to its A$850 million refinancing of ESR Australia Logistics Partnership’s (EALP) existing facilities.
- Acting for Brookfield owned DCI Data Centers in relation to its c. $250 million debt refinancing by way of a Sustainability Linked Loan and Green Loan.
- Acting for Morgan Stanley as MLAUB in relation to the c. $262 million refinancing of the commercial office tower at 388 George St.
- Acting for Deutsche Bank, JP Morgan and Citi in relation to a c. $350 million margin loan to various Blackstone vehicles in connection with their investment in the Crown Resorts Group.
- Acting for Credit Agricole and MUFG as mandated lead arrangers and underwriters in relation to the c. ¥19 billion construction and working capital “green loan” facilities for the AirTrunk Group in connection with the establishment of it Tokyo 2 Data Centre.
- Acting for Deutsche Bank AG, New York Branch and Deutsche Bank AG, Tokyo Branch as mandated lead arrangers and underwriters in relation to the c. ¥45 billion construction and working capital facilities for the AirTrunk Group in connection with the establishment of it Tokyo 1 Data Centre.
- Acting for various Lenders to ESR in relation to c. $240 million refinancing of the ESR Australia Logistics Partnership II’s (EALP II) existing facilities
- Acting for ASX listed MoneyMe Limited in relation to its c. $80 million debt facilities and warrants with Pacific Equity Partners.
- Acting for Morgan Stanley and MUFG in relation to $60 million debt facilities Bluestone Home Loans.
- Acting for HPS Investment Partners, LLC in relation to its c. A$435 million unitranche financing for Real Pet Foods Group.
- Acting for CBA and UOB as the mandated lead arrangers and underwriters for the A$604 million debt facility to fund the acquisition of the Ixom Group by the Keppel Infrastructure Trust.
- Acting for Alinta Energy in relation to various financing matters, including the refinancing of its A$920 million bank debt facilities, its A$130 million institutional debt facilities and its US$130 million and A$95 million USPP issuances.
- Acting for the bank and debt investor syndicates in relation to the A$1.6 billion refinancing in respect of the Sydney Desalination Plant including an institutional samurai loan, which was only the second transaction involving the product in the Australian market, and the refinancing of same.
- Acting for the Lenders to Port of Newcastle in relation to its c. A$650 million refinancing facility by way of an innovative hybrid sustainability linked loan and green loan.
Awards and Recognition
Stuart was recognised as a 'Rising star partner' for Banking and Finance.
IFLR1000 2022
In June 2013, Stuart was awarded Australian Lawyers Weekly 30 Under 30 Award – Banking and Finance awarded annually, recognising excellence among Australian Lawyers under the age of 30.
LAWYERS WEEKLY 2013