Luke Bona

Special Counsel
Norton Rose Fulbright Australia

Luke Bona

Luke Bona

vCard

Biography

Luke Bona is a corporate finance lawyer in the Brisbane office. Luke specialises in corporate finance, project finance, property and construction finance and asset finance, corporate restructuring, distressed debt transactions and insolvency.

Luke's experience crosses multiple sectors and industries including financial services, energy & resources, property, mining services, aviation, infrastructure, agriculture, retail, health, construction, aged-care, education and manufacturing.

Luke has experience acting for:

  • all four major banks, the Queensland-based regional banks, various other financial institutions in Australia and overseas;
  • corporates in connection with debt raisings and issuances and project finance;
  • borrowers, giving him up-to-date insight and perspective on the market; and
  • all major insolvency firms in Australia. 

Professional experience

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  • Bachelor of laws / Bachelor of commerce, University of Queensland (Honours) (2006)
  • Graduate diploma of legal practice, College of Law (2007)
  • Solicitor of the Supreme Court of Queensland 2007
  • Solicitor of the High Court of Australia 2009

Banking and finance

  • Advising AirTrunk on a S$450m financing with Natixis, Deutsche Bank and Goldman Sachs to finance the construction of its Singapore data centre and a HKD440m financing with Deutsche Bank to finance the construction of its new Hong Kong data centre. The AirTrunk group develops and operates carrier neutral colocation hyperscale data centres across Asia Pacific.
  • Advising a number of AMP funds in connection with a 'Hold Co'/sponsor financing to facilitate Stonepeak Infrastructure Partners' acquisition of a 25% interest in a circa US$2.4B / 376MW wind-farm project in Taiwan, expected to become operational in 2021.
  • Advising Howard Smith Wharves on a refinancing of its debt with one of the 'big four' domestic banks and an institutional lender.  Howard Smith Wharves is one of Brisbane's newest entertainment and lifestyle precincts constructed on a heritage-listed wharf on the Brisbane River.
  • Advising Viburnum Funds and SCF Partners in connection with acquisition finance to assist with the acquisition of the Contract Resources group.  The Contract Resources group is a market leading provider of critical path and technical services to oil and gas, refining and petrochemical players in Australia, New Zealand and the Middle East.
  • Lender counsel in connection with US$350M and A$370M of multicurrency revolving cash advance facilities and bank guarantee facilities for the Coronado group of companies to assist with (amongst other things) refinancing existing term loan facilities and to raise capital for certain coal mine projects in Australia and the United States and for general corporate purposes. The transaction involved obligors and collateral in various States and Territories of both Australia and United States, numerous legal counsel in both relevant jurisdictions and complex funds flow and settlement mechanics in connection with the Australian listed entity's raising of approximately $774M by way of initial public offering on the Australian stock exchange and subsequent refinancing.  The matter is one of the most significant recent coal financing transactions in the Australian market.
  • Lender counsel in connection with A$450M of bank guarantee and revolving cash advance facilities for the G8 group of companies for (amongst other things) the refinancing unsecured notes issued by G8 and refinancing other existing financial indebtedness as well as general corporate purposes. G8 is Australia's largest listed childcare operator and its profile in the market resulted in strong support from investors and oversubscription to the senior facility.
  • Acting for a club of Australian and overseas banks - advising in relation to approximately A$180M of multicurrency revolving corporate debt facilities for the Corporate Travel Management group.  The Corporate Travel Management group has operations and subsidiaries all around the globe and the financing involved the taking of security over collateral located in Australia, New Zealand, the United States of America, the United Kingdom, Europe, the BVI, Hong Kong and Singapore.
  • Acting for a club of Australian banks - advising in relation to A$200M of corporate debt facilities for the Transit Systems group as well as the related property financing for the group's property owning entities.
  • Acting for McConaghy Properties - advising in relation to A$350M of facilities for property acquisitions and development, working capital and cash reserves.  The facilities are provided by a club of Australian banks.
  • Acting for Palm Lake aged care group - advising in connection with its club bank corporate debt, acquisition and property development facilities.
  • Acting for HSBC - advising in relation to A$150M property acquisition and development facilities for the Jen Retail Properties Limited.
  • Acting for CBA - advising in connection with construction facilities and subsequent investment facilities in relation to the construction and operation of student accommodation facilities on Colchester Street in South Brisbane.
  • Acting for Pepper Home Loans - advising in relation to its corporate debt facilities and core business funding arrangements more generally.
  • Acting for MSF Sugar - advising in relation to a borrowing-base facility with a syndicate of Australian banks.
  • Acting for a Hong Kong based, BVI incorporated fund - advising in connection with a development finance facility for the construction of 21 luxury apartments in Cammeray, New South Wales.
  • A Hong Kong based, BVI incorporated fund - advising in connection with a development finance facility for the construction of 409 apartments in Flemington, Victoria.
  • Acting for Macquarie Bank - advising in connection with corporate debt and acquisition facilities for the Threat Protect group and the Sparrow Early Learning childcare group.
  • Acting for ANZ - advising in relation to a working capital facility with ERM Power.
  • Acting for a syndicate of banks - advising in relation to a A$500M borrowing-base facility for Queensland Sugar Limited.
  • Acting for a Hong Kong based, BVI incorporated fund - advising in relation to its subscription for secured loan notes issued by a warehousing, transportation and logistics group based in Victoria.
  • Acting for ANZ - advising in relation to corporate debt facilities with the Devine property group.
  • Acting for Cromwell Property Group - advising in relation to its corporate debt and other facilities.
  • Acting for Scottish Pacific - advising in relation to its corporate debt facilities.
  • Acting for National Australia Bank Limited - advising in relation to working capital facilities for the Flight Centre Travel Group.
  • Acting for Tatts Group Limited - advising in relation to the group's corporate debt facilities in excess of A$1B.

Insolvency and corporate reconstruction

  • Advising Suncorp in relation to the recovery of various distressed debts secured primarily by real property and agricultural assets in all Australian States.
  • Advising BMA in connection with the completion of a mine project in the Northern Territory including the provision of specialist advice regarding project documents and project completion.
  • Advising Bradken Resources Pty Limited in connection with the Forge group external administration.
  • Advising a financial institution with respect to enforcement options in connection with its proposed acquisition of a A$2B distressed debt book.
  • Advising the administrators appointed to LM Investment Management Limited (and its related services entity) in relation to the group's A$3B funds management empire. Liaising and negotiating with stakeholders and ASIC and advising on ASIC regulatory and security enforcement issues.
  • Advising the administrators appointed to Kagara Ltd and its related entities. Kagara is an ASX-listed mining company with copper, zinc-lead and nickel operations in North Queensland and Western Australia. Kagara was founded as a private company in July 1981 and has various exploration tenements which cover an area of nearly 2,000 square kilometres.
  • Advising Westpac and Westpac New Zealand Limited and their receivers and managers in the receivership of a large independently owned bakery business in Australia and New Zealand.
  • Advising the security trustee and its receivers and managers in relation to the WOW Audio Visual group. WOW was established in 2003 as a retailer of home entertainment products. With a total of 15 stores, approximately 550 staff and over 300 suppliers, WOW was recognized as one of the largest privately held consumer electronics retailers in Australia.
  • Advising the secured creditor and its receivers and managers in relation to Equititrust Limited and the Equititrust Income Fund with fund assets valued at between A$100M to A$300M (and previously valued at up to A$750M).
  • Advising a syndicate of secured financiers and the receivers and managers in the receivership of "The Oracle" at Broadbeach. Secured assets comprising "The Oracle" twin towers at Broadbeach which include premium retail, commercial and residential lots. Issues which were advised upon include duty of sale; 'ring-fencing' of project assets into a SPV for the purposes of resourcing and facilitating the completion of the project and the ancillary services agreements; contractor agreements and other related employee entitlement issues; pre-sale settlement and litigation strategy; the disposal of the management rights in "The Oracle"; receiver funding arrangements; building and construction issues including the adoption of the pre-appointment building contract and the finalisation and payment of outstanding progress claims; and all post-appointment residential sale and retail and commercial leasing issues.
  • Advising the administrators appointed to all the entities within the RiverCity Motorway Group which operates and maintains the A$3B CLEM7 toll road. Obtained a 21 month extension to the convening period for the second meeting of creditors; obtained novel orders under section 447A relieving the administrators of certain obligations in connection with Part 2M.3 of the Corporations Act 2001 (Cth); clarified the position with respect to "officers" for the purposes of Chapter 5C of the Corporations Act 2001 (Cth).
  • Advising various banks in relation to claims against valuers for negligent valuations.