Recognised by clients to be a sophisticated and strategically-minded lawyer, David brings 27 years of experience as a partner in large Australian firms to acquisition and corporate financing transactions, complex co-investments, project finance, and corporate advisory work.
Some published client feedback:
"He takes a special interest in the specific commercial drivers of our business; he truly takes the trouble to understand what's important to us." - Chambers Global.
'He is valued for having "an excellent grasp of corporate reality" and for being "extremely commercial".' – Chambers Asia-Pacific.
'He is especially credited for "doing a fantastic job navigating complicated and challenging matters."' - Chambers Asia-Pacific.
Expertise
David’s expertise includes:
- Acquisition Finance and Corporate Finance
- Joint ventures, co-investments and project finance, especially in energy transition and property development projects
- Debt restructuring
- Corporate and finance law.
Recent Projects*
- David has advised:
- the landowners on the option, long-term lease, and tripartite arrangements for the up to 2.5GW Dinawan Energy Hub – a hybrid wind farm, solar and battery storage project in the Riverina, NSW
- an investment group in partnership with Sino Integrity Group on two 600+ lots master plan community development projects in Queensland (Ripley in 2023 and Mackay in 2024) and related funding structures
- Orens Capital, a funds manager, on the JV acquisition and funding for a 640 residential lots development in Geelong’s growth corridor
- an investment group in joint venture with the SIG Group on a 2,200 lot residential precinct development project in western Melbourne’s growth corridor and related funding structure
- CDH Investments on its and China Grand Pharma’s syndicated acquisition finance for their take private of Sirtex Medical Ltd for A$1.9 billion
- Elders Ltd on its acquisition financing of Australian Independent Rural Retailers, a 340 store retail chain
- RMIT University on its common terms A$500 million syndicated bank debt and long-term US Private Placement financing program.
- a large Australian bank on a limited recourse financing of a terminal station, transmission line and substation to connect the Ararat Wind Farm
- KfW IPEX-Bank of Germany on a High Purity Alumina (Altech Batteries Ltd) project and project financing.
- Aurora Energy on its Large-Scale Generator Certificate purchase contract (and tripartite arrangements) for the Cattle Hill Wind Farm
- Victoria Racing Club on the $120 million construction financing for the development of its 18,000 seat Club Stand at Flemington.
- Australian Unity on the separate project financings for and joint venture agreements to develop: the Lane Cove Aged Care and Retirement Village precinct in Lane Cove, NSW; the Grace Albert Park Lake Retirement Village in South Melbourne; and the Drummond Place Retirement Community in Carlton
- 7-Eleven on the successful re-tendering to a club of banks of its main external debt facilities
- Helloworld Ltd on the design and successful conduct of a RFP/tender process to optimise its debt finance facilities and terms
- Affinity Equity Partners on its pre-IPO refinancing of Tegel Foods.
- Elders Group on its critical debt restructurings / renegotiations with successive banking syndicates
- Wesfarmers’ Coles Group on the secured vendor financing of FoodWorks’ acquisition of a portfolio of supermarkets and licensed liquor stores and the subsequent restructuring of FoodWorks
- Affinity Equity Partners on the A$598 million leveraged financing of its acquisition of 70% of Primo Smallgoods
- Affinity Equity Partners on the leveraged finance (senior and mezzanine) for its acquisition of Tegel Foods and subsequent sale and leaseback of Tegel Foods’ major production facility sites in New Zealand
- CKI Holdings Ltd on a $666 million syndicated takeover funding facility for its $2.37 billion take private of ASX listed Envestra Ltd, one of Australia’s largest gas transmission and distribution entities
- Equis Asia Fund on the shareholders’ and funding arrangements with Partners Group, FMO of the Netherlands and KfW DEG of Germany, establishing the clean energy infrastructure fund, Soleq.
*includes matters while at a previous firm
Professional Memberships / Accreditation & Activities
- Stand out lawyer, Acritas Star Lawyers global survey, 2018, 2019
- Leading Lawyer , Highly regarded, IFLR1000, 2019, 2020
- Recognised in Best Lawyers in Australia, 2017-2020
- Leading Individual, Acquisition Finance – Chambers Asia Pacific or Chambers Global (or both): 2010-2017
- Leading Individual, Corporate Finance, Chambers Global 2019 and Chambers Asia Pacific 2018 – 2019
- Named ‘one of the World’s Leading Project Finance Lawyers’ – Expert Guides: 2009, 2011
- Holds an M.B.A. (with High Honors) (University of Chicago Booth School of Business)
Sector
- M&A / Corporate Advisory ,
Services
location
Melbourne
Partner
Simon Panegyres
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