Perth Stadium Refinancing (2023)
Tetris Capital was engaged by Westadium Project Co Pty Ltd alongside its investors, the Dexus Community Infrastructure Fund (CommIF) and abrdn's AGIP II fund, to act as financial advisor for the refinancing of the new Perth Stadium PPP.
Through engagement with its extensive network of financiers, Tetris Capital undertook a comprehensive assessment of available financing products encompassing local/international bank debt, superannuation funds, insurance company investors and the USPP bond market.
In September 2023, Tetris Capital successfully refinanced c. $300m of debt via a mix of local and international lenders. The financing solution was delivered in close collaboration with the Western Australian Government and achieved an outstanding result for investors and the broader WA community.
A statement issued by Westadium's directors noted "Westadium is delighted to welcome a new lender group onto the project and we look forward to working with our new finance partners to continue the success of the project to date. We would also like to thank the State team for their engagement and support throughout the refinancing process."
The new Perth Stadium is an award-winning, state-of-the-art, multi-purpose stadium accommodating a year-round calendar of major sporting and entertainment events. It is the third largest stadium in Australia with a capacity of over 60,000 people. The stadium commenced operations in January 2018.
Burswood, Western Australia
Westadium Project Co Pty Ltd