Rail

• advised the New South Wales Government on the fast freight and passenger rail project between Sydney, Canberra and Melbourne. The project was not viable without a means of capturing some of the large property development gains created by the new rail link. A number of alternative means of securing a share of these gains were analysed including an infrastructure levy, a rezoning tax and sale of development rights;

• advised on restructuring the ownership of and refinancing the Sydney Airport Link, the underground passenger rail and stations linking Sydney Airport to the city;

• advised a government authority on basis for private investment in an urban subway development;

• advised TNT on the proposed Gold Coast Monorail including arranging underwritten finance;

• advised Lend Lease and Abigroup on the proposed Northern Beaches Light Rail project;

• advised and arranged underwritten finance for the Black Swan syndicate's acquisition bid for Westrail, the Western Australian rail network and rolling stock. This included arranging equity, sub-debt and senior debt and developing the capital, financial and tax structures;

• advised Goninans on financing the successful supply of $300m of locomotives for National Rail Corporation, including advice on a cross border and domestic tax effective financings and alternatively, an underwritten BOOT bid;

• advised Leightons on their PPP bid to upgrade the Victorian regional rail system; advised NAB lead consortium on the bid to acquire the Dalrymple Bay Coal Terminal, a rail based port coal loading terminal. This advice included developing an innovative financing structure; advised Hope Downs Management Services Pty Ltd on negotiating access to existing rail and port infrastructure in the Pilbara for the Hope Downs Iron Ore Project;

Roads

• arranged the underwriting of $50 million of 35 year CPI bonds and $100 million of 25 year FRNs for Transurban’s winning Melbourne City Link toll road bid. This was the first occasion on which a toll road had used limited recourse CPI bonds and FRNs;

• arranged the underwriting of $90 million of 35 year CPI bonds for the Leighton’s winning Eastern Distributor toll road bid;

Other

• arranged a $52m off-balance sheet, leverage operating lease facility for an Orica LPG carrier including utilising the ship owners grant;

• advised on underwritten bids which included leveraged lease facilities for a the Victorian, Queensland, ACT Governments and State Rail Authority motor vehicle fleets;

• advised a US based consortium on their bid for the acquisition of the Australian Government car fleet