National Archives Preservation Facility

National Archives Preservation Facility

Multi-tranche A$75.6 million, 28.5-year Senior Secured and A$11million,15-year Mezzanine Private Placements

August 2017 – DTW was appointed by Doma Group as the financial advisor and debt arranger for the long-term financing of the National Archives Preservation Facility located in Canberra, ACT.  Following commercial acceptance and occupancy of the property by the National Archives of Australia in February 2017, the project’s construction finance facility converted to a short-term debt facility.  This facility was refinanced, and the asset regeared  via a higher leveraged 28.5-year fixed-rate senior secured note placement (August 2017) and 15-year mezzanine financing (April 2018).

DTW’s scope of work included: advising the group on the terms, structure, pricing and execution of the issue; identifying potential note purchasers; the design and construction of the project financial model; management of specialist technical consultants; and negotiation and oversight of the financing documentation to settlement.  The Note subscribers included two syndicates of leading Asian-based institutional investors.

The Senior Secured Note Issue for the National Archives represents the longest fixed rate “natural” A$ financing of its type completed by an Australian private sector issuer.