Image of Peter Wilkes

Peter Wilkes

Partner

Email

peter.wilkes@aoshearman.com

Phone

+618 6315 5930

Offices

Perth

V-CARD
Peter has extensive experience on the finance and development of mining, energy, energy transition, natural resources and infrastructure projects throughout their lifecycle.

Peter acts for project proponents, sponsors, private capital, banks and ECAs on pre-BFS and project financing, acquisition and leverage finance, syndicated bank facilities, convertible note and hybrid funding arrangements and energy and resource related structured finance including royalty, streaming and prepaid commodity financing.

Peter has acted for Australian companies undertaking debt capital market issues, including convertible bonds, 144A note issues and loan notes issued to the private placement market in the United States and the Nordic bond market. Peter also advises in relation to project structuring, joint ventures, project development and offtake arrangements.

He is acknowledged by IFLR 1000 as a leading lawyer highly regarded in Banking and Debt Capital Markets and has been acknowledged by AFR as one of Australia’s Best Lawyer since 2012 in a range of categories including Agriculture and Rural Affairs, Banking and Finance Law, Commercial Law, Commodities Law, Debt Capital Markets Law, Equity Capital Markets Law, Financial Institutions, Leveraged Buyouts, Mining Law, Natural Resources Law, Oil and Gas Law, Project Finance and Development Practice and Structured Finance Law.

Expertise

Industries

Experience

Representative matters

  • Fortescue on its initial global USD2bn project bond to fund the development of its integrated iron ore mine, rail and port project in Australia, as well as the refinancing of that project bond with a USD2bn syndicated facility and all subsequent financing transactions in relation to expansions including numerous secured and unsecured 144A bond issues from 2010 to now, preference share and loan note issues, ECA and equipment financing arrangements, its USD5bn secured Term Loan B financing, syndicated bank facilities and a multi-ship financing by sale and leaseback under BBC. These transactions included several deals of the year awards.
  • Pilbara Minerals on its AUD250m senior secured syndicated facility with NAIF and Export Finance Australia (EFA) to fund the expansion of Pilbara Minerals Pilgangoora lithium tantalum mining and processing operations, its USD113m senior secured facility with commercial banks to refinance existing facilities and the associated common terms deed and intercreditor arrangements.
  • The mandated lead arrangers and lenders on the USD5bn loan facility for BHP Billiton's takeover of Oz Minerals by scheme of arrangement.
  • A group of financial institutions in relation to a AUD134m multi tranche project financing facility to Kalium Lakes for the development of its Beyondie Sulphate of Potash Project, a greenfield 90ktpa Sulphate of potash mine, together with associated infrastructure.
  • Pilbara Minerals on an AUD80M convertible bond issue to POSCO redeemable at Pilbara Minerals election together with an AUD80m share issue to POSCO, a spodumene offtake agreement and a joint venture agreement for the development of a lithium hydroxide conversion facility in Korea.
  • Fortescue on a senior secured term loan B facility with a group of financial institutions as joint lead arrangers and joint bookrunners and a group of financial institutions as co-managers. Awarded Debt Market Deal of the Year 2013, ALB Australasian Law Awards and Syndicated Loan of the Year, 2013, CFO Dealbook Awards.
  • EMR Golden Grove on its USD160m syndicated term loan facility with a global financial institution and other banks in relation to the Golden Grove copper, lead, silver, zinc and gold mine in Western Australia.
  • Mitsui & Co on a prepaid offtake financing arrangement with Carpentaria Resources in relation to its Hawsons Iron Project.
  • Resource Capital Fund in relation to a USD75m secured equity bridge facility provided to Wolf Minerals in connection with the project financing of Wolf’s Hemerdon Tungston Project in Devin, England. Also advised on interecreditor and royalty funding with UniCredit Bank AG, ING Bank MV and Caterpillar Financial SARL and UFK’s guarantee support through the German government’s loan guarantee scheme.
  • Pilbara Minerals on the USD100m secured project bond issue in the Nordic market to raise funding for development of its lithium tantalum mine in Western Australia. This project is the first Nordic bond issue by an Australian issuer. The bond was marketed globally with institutional investors participating from Australia, Asia, Europe and the U.S. Metals & Mining Deal of the Year 2017 IJGlobal Asia Pacific.
  • Swiss commodity trading company on a fully secured USD420m prepayment facility and the associated zinc and lead concentrate purchase agreements.

Published Work

  • Barry Irwin/Peter Wilkes 2015 “Mining Finance” published in the book ‘Energy and Resources Financing: A Practical Handbook’ published by Globe Law and Business (Copyright © 2015) - December 2015. 
  • Investing in Africa - Protecting Investors Interests - Stabilisation Clauses - AMPLA Yearbook 2013. 

Speaking Engagements

Mining Financing Techniques: Alternative Financing Techniques through the life cycle of a mining projects” – presented to the International Bar Associate 2019. 

Distressed M&A - a case study - Nexus Energy acquired by Seven Group Holdings - presented to the Corporate Insolvency course at the Law School of the University of Western Australia (2015) 

Investing in Africa - Protecting Investors Interests - Stabilisation Clauses - delivered to AMPLA National Conference (2013) and published paper in 2013 yearbook. 

Specialised Funding - accessing capital for project expansion and development - delivered to Resource CFO Seminar (2012). 

Mergers by Schemes of Arrangement – delivered to the Law Society of WA. 

Audit Committees under Australia Law – delivered to the Law Society of WA. 

Corporate Finance – delivered to Masters of Business Administration course at Murdoch University (2007). 

Finance and securities – delivered to Secured Transactions course at Murdoch University Law School (2006). 


 

Leadership Positions And Professional Affiliations

  • AMPLA, The Resource & Energy Law Association
  • Law Society of Western Australia

Recognition

“Excellent. Peter has very strong technical skills matched with an easy personality.”
IFLR 2018
“Results without aggravation! He is regarded as our “go to lawyer” and consistently provides excellent service.”
IFLR2018

Awards

  • Pilbara Minerals USD100m Nordic Project Bond - Metals & Mining Deal of the Year 2017 IJ Global Asia Pacific
  • Fortescue Ltd USD473m finance lease over 8 very large ore carrying vessels with CDB Leasing – Leasing Deal of the Year 2016 Marine Mining
  • Fortescue’s USD5 bn term loan B - Debt Market Deal of the Year 2013, ALB Australasian Law Awards and Syndicated Loan of the Year, 2013, CFO Dealbook Awards
  • Fortescue Ltd USD1.5bn unsecured note issue 2011 - Corporate Bond Issue of the year 2011 CFO Dealbook Awards

Qualifications

Admissions

Registered Foreign Lawyer, England and Wales, 2010

Admitted to the High Court of Australia, 1989

Admitted as solicitor, Western Australia, Australia, 1988

Academic

Bachelor of Laws, The University of Western Australia, 1987

Bachelor of Jurisprudence, The University of Western Australia, 1986

Languages

English
Disclaimer
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.