Current practice
Justin Pelly has extensive experience in all forms of financing transactions, particularly in the areas of corporate finance, property finance and acquisition finance.
Experience
Corporate finance
Justin has acted for borrowers and lenders on large and complex corporate finance transactions, including:
- acting for Metcash on its $700 million unsecured syndicated and bilateral facilities
- acting for Myer on its $670 million unsecured syndicated and bilateral facilities in connection with Myer’s IPO
- acting for NAB on the $250 million syndicated secured facility for the Win group of companies
- acting for Lend Lease Corporation in relation to its cash advance and bonding facilities, including its £300m syndicated cash advance facility arranged by Barclays and its bilateral bonding facilities with various counterparties including EFIC, RBS, ANZ, Westpac and BAML
- acting for the syndicate banks to Vodafone Hutchinson on the A$3 billion term syndicated facility agreement entered into by Vodafone Hutchinson Australia Pty Ltd loans
- acting for Santos in relation to its A$2bn bilateral facilities
- acting for BNP Paribas, Westpac, NAB, ANZ and the other syndicate banks on Wesfarmers’ A$2.5bn refinancing
Acquisition finance
Justin has worked on large scale transactions in the acquisition and leveraged finance area, including:
- acting for Goldman Sachs on its Mezz Fund 2 Asset Leveraged Facility
- acting for Westpac on the $670 million leveraged financing of Visy’s acquisition of the Southcorp packaging assets and the $160 million leveraged financing of the Coca Cola Amatil bottling assets
- acting for Burns Philp on the $3 billion leveraged financing of its successful takeover of Goodman Fielder
- acting for Metcash on the $1 billion financing of its acquisition of Foodland’s Australian wholesale grocery business and the related Metcash and Foodland schemes of arrangement
- acting for Goodman Fielder on its $1.4 billion IPO financing
- acting for Credit Suisse and HBOS and the syndicate lenders on the A$370 million financing of the private equity acquisition of the Emeco Group
- acting for Newbridge Capital on its successful A$1.4 billion purchase of 60 Myer department stores
- acting for Metcash on the $120 million financing of the Mitre10 acquisition
- acting for Lend Lease on the $670 million financing of the Primelife acquisition
- acting for Lend Lease on the A$1.1 billion cash advance and bonding facility for the acquisition of the Valemus group
Property finance
Justin has extensive property finance experience, having acted on major transactions, including:
acting for Lend Lease Real Estate Partners 3 (a Lend Lease Fund) in connection with a $A200m facility agreement with ANZ to assist the fund in its acquisition of commercial real estate properties in Australia
acting for FKP on the A$80 million construction financing for the Aerial development in Camberwell, Melbourne
acting for Lend Lease in relation to the construction financing for the Convesso V5 residential and retail development in Docklands, Melbourne
acting for Lend Lease in relation to the construction financing for the Serrata residential and retail development in the Docklands, Melbourne
acting for APPF Retail on its $450 million syndicated unsecured financing and for APPF Commercial on its $670 million syndicated secured financing
acting for Lend Lease on its S$660 million financing in connection with its successful bid for Somerset Central, Orchard Road, Singapore
acting for both borrowers and lenders on a number of other significant property construction financings, including:
- the $400 million Darling Park Stage 2 property financing
- “Italian Forum” residential and commercial development at Leichhardt
- “Forum West”, St Leonards
- $228 million Bennelong Point property financing
- $160 million Darling Island Project
- “Jacksons Landing”, Pyrmont
- the $335 million Aurora Place financing
- the Olympic Village project
- the $160 million financing of the Fox Film Studios and Entertainment complex development at Moore Park, Sydney.
Capital markets
Justin has a broad based capital markets experience in the Australian, US and Euro markets, having acted for both issuers and lead managers in all these markets including:
- Lend Lease Europe’s £300 million Eurobond issue and Lend Lease US Finance’s US$300 million USPP
- APPF Retail’s A$250m MTN issue in the Australian wholesale debt capital markets
Professional background
Justin has been a partner of the firm since 1 July 1994.
Justin holds a Bachelor of Commerce and Bachelor of Laws degrees from the University of New South Wales.