Allens advises Investec on sale of $1.1bn loan portfolio

Allens has advised Investec on the sale of its $1.1 billion corporate and acquisition finance loan portfolio to Metrics Credit Partners.

The portfolio comprises leveraged finance, corporate and fund finance loans to corporates and funds across business services, entertainment, retail, childcare, healthcare, mining services and financial services in Australia.

The sale forms part of Investec’s exit from the Australian market as it streamlines its business structure.

‘We are delighted to have advised Investec on this important sale as it transforms its global operations,’ said lead Partner Mark Kidston.

‘The transaction was completed in a very short timeframe which is testament to all parties involved.

‘Our advice was informed by our team’s deep knowledge of the loan portfolio market and our experience on numerous similar deals in recent years, including regulatory requirements and relevant Loan Market Association documents. This experience was particularly valuable during the due diligence phase of the transaction.’

Allens’ loan portfolio specialists act on both the sell-side and buy-side of competitive auction processes, including in distressed situations, across all major sectors.

The firm recently advised on several major loan portfolio matters, including advising Cerberus Capital Management on the acquisition of Westpac’s vendor finance business and the acquisition of specialist SME lender Axsesstoday Limited and mortgage lender Bluestone Mortgages.

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