50-year lease of the Port of Melbourne in Victoria, Australia
Societe Generale supports the project and contributes to the State’s future development.
The Lonsdale consortium comprising the Future Fund, QIC, Global Infrastructure Partners and OMERS reached financial close on the 50-year lease of the Port of Melbourne on 31 October 2016, in which Societe Generale acted as Mandated Lead Arranger and Bookrunner in the AUD 4.58 billion financing.
The Port of Melbourne is the largest container, automotive and general cargo port in Australia handling just over one-third of Australia's container trade with a diversified throughput.
The lease is worth in excess of $9.7 billion and its proceeds will be an important contributor to the State of Victoria’s long-term development. According to a press release issued by the Victoria State Government*,
“The proceeds are available for infrastructure projects and programs that will benefit the agriculture sector, including transport, irrigation, and energy projects, as well as skills development programs and market access campaigns.
The Andrews Labor Government has also delivered a $200 million Agriculture Infrastructure and Jobs Fund to drive economic growth in our regions, creating jobs, boosting exports and supporting Victorian farmers from paddock to port.”
Societe Generale has been active in financing a number of recent key infrastructure projects and privatisations in Australia, including Ausgrid, Canberra Metro, Sydney Light Rail and Roy Hill, and continues to develop the Australian financial advisory practice.
* Press Release titled “Port Lease Delivers $970 Million For Regional Victoria” on Victoria State Government website (http://www.premier.vic.gov.au/port-lease-delivers-970-million-for-regional-victoria/), 19 September 2016
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