Australia’s leading independent law firm, Corrs Chambers Westgarth, has advised Bank of America, Citibank, CBA, Goldman Sachs, HSBC, ING, NAB, Societe Generale and Westpac, as mandated lead arrangers, underwriters and bookrunners (MLAUBs) on the provision of A$1.8 billion of syndicated facilities to Foxtel.
Foxtel is Australia’s leading provider of subscription television broadcasting services. The transaction was negotiated concurrently with the acquisition of the Foxtel Group by DAZN Group Limited (DAZN), a premier global sports streaming platform, from News Corporation and Telstra Group.
Jointly-led by partners Caitlin Chiu and John Mosley and supported by partners Arvind Dixit, Simon Mifsud, Steven Rice and Brad Husband, Corrs advised the lenders on all aspects of the transaction with support from the firm’s banking and finance, technology, media and telecommunications, tax, competition and financial services practices.
Commenting on the matter, lead partner Caitlin Chiu said: “We are delighted to have advised the MLAUBs on this major corporate financing, secured as part of the DAZN acquisition, with each providing substantial cornerstone commitments as key financial backers of Foxtel.”
Joint-lead partner John Mosley added: “The transaction further strengthens Corrs’ reputation as a top-tier provider of legal services to the Australian banking community, regularly advising on some of Australia’s largest corporate financing transactions.”
A separate team at Corrs also advised DAZN on the acquisition.