InfraBuild has finalised its transaction seeking consent from its bondholders, with a significant majority of notes holders voting in favour of providing greater flexibility and liquidity for the company. 

The outcome of the transaction allows InfraBuild to withstand the current market downturn and invest in growth and innovation, positioning InfraBuild as Australia’s leading sustainable steel company and a key partner to the country’s building, construction and engineering industries. 

A majority of bondholders have supported the transaction that provides: 

• an additional US$150 million notes issued under the existing bondholders’ agreement to prepay outstanding amounts under the syndicated facility agreement (ABL), originally dated as of May 26, 2023. Once the ABL has been prepaid in full, the notes will be secured on substantially all assets of the issuer and the guarantors on a first lien priority basis 
• the return to InfraBuild’s balance sheet the escrow funds raised through the ABTL financing, bolstering the company’s free cash position to over AU$700 million pro forma to 31 March 2025 
• an initial extension for the delivery of InfraBuild’s audited FY24 financial statements by May 31, 2025
• strengthened governance, enhanced transparency and a fortified ringfence around InfraBuild. 

Francisco Irazusta, InfraBuild´s chief executive officer, said: “With the financial surety of this transaction, InfraBuild can continue its work supporting the building of Australia with sustainable steel made in this country, while investing in growing our business using new technology and innovation to deliver the very best products and services for our customers.”