Infrastructure
| Sector | Infrastructure |
| Sub-sector | Transport |
| Location | Australia and New Zealand |
In Australia, Kinetic operates one third of Melbourne’s bus network.1
Kinetic is an industry leader in the electrification of bus fleets and depot networks. The requirements for zero-emission bus readiness,2 and substantial associated capital costs, provided the opportunity to transition Kinetic’s debt package from leverage financed to a core-plus infrastructure.
The Macquarie team showcased to lenders the high levels of government contracting, low patronage risk, cost pass through nature of contracts, and significant barriers to entry.
As a result, we were able to execute the first infrastructure debt repositioning of scale for a private bus company in Australia and New Zealand.
Outcome
By entering into the ~$A1.6 billion facilities, Kinetic is now better positioned to fund its strong growth pipeline and meet its decarbonisation goals. This includes decommissioning diesel buses and replacing them with zero emission buses within the Australia and New Zealand transport network and launching a leading all-electric bus depot.2
We are pleased to have supported Kinetic in repositioning their credit to reflect its infrastructure features. This enhances Kinetic’s debt margins and capacity, opening up funding for the electrification of their bus fleet and depots.”
Iain Melhuish
Head of Debt Capital Markets, ANZ
Macquarie Capital
Tom Butcher
Head of Infrastructure, APAC
Macquarie Capital
Kinetic operates Australia and New Zealand’s largest private bus network3
battery electric buses (BEBs) in operation in Australasia in 20232
Syndicated Facility Agreement
Refinance of the Year, APAC – IJInvestor Awards 20244
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