Dean Bao

Special Counsel
Baker & McKenzie


Dean Bao is a special counsel in the Banking and Finance Group, focussing on infrastructure and project finance. He is recognised in Asia-Pacific Legal 500 (2022) as a Rising Star in Project Finance in Australia.

Prior to joining Baker McKenzie in 2021, Dean worked in the Sydney and Beijing offices of a Magic Circle firm, and prior to that worked in other international firms in Melbourne and Beijing.

Practice Focus

Dean has extensive experience advising banks and other financiers (including funds and export credit agencies) and sponsors and borrowers on a wide range of financing transactions, focussing on project finance, acquisition finance and corporate finance (particularly in the energy and infrastructure sectors), both domestically and internationally (including complex, multijurisdictional and cross-border financing transactions).

Representative Legal Matters

Dean's recent experience includes advising:

  • the lenders (comprised of a syndicate of domestic and international banks and a group of institutional lenders) on the financing to Global Infrastructure Partners for the acquisition of a minority stake in the Shell QCLNG project in Queensland*
  • Lighter Capital on its AUD 30 million facility from the Victorian Government to invest in Australian Tech Start-ups
  • an international bank on its AUD 77 million facility to a Canadian-owned Australian-based transport company
  • a syndicate of domestic and international lenders on the financing to an Australian-led consortium’s bid for the privatisation of the South Australian and Western Australian land titles registries (successful) and privatisation of the NSW and Victorian land title registries (unsuccessful)*
  • three syndicates of domestic and international lenders on the financing to the Transurban-led consortium for the partial privatisation of the WestConnex tollroad project in New South Wales*
  • Industrial Bank of China Limited, Bank of China Limited, the Export-Import Bank of China and China Construction Bank on the Sinosure-supported USD 1.623 billion syndicated project finance loan to a Chinese, Malaysian and Estonian JV for the development of the Attarat Power Project, an oil shale fuelled power plant in Jordan*
  • China Development Bank and other Chinese lenders on the USD 1.48 billion syndicated loan for the refinancing of the Karara Mining Limited iron ore project in Western Australia, including numerous associated bilateral working capital facilities*
  • the lenders on the financing of Morrison & Co's investment in Telstra's InfraCo Towers business*
  • the lender on the financing for the expansion of the Sunshine Coast Regional Airport, including the subsequent refinancing*
  • the syndicate of lenders on the financing of the successful bidder’s acquisition of the ANU student accommodation in Canberra*

* Deals completed at a previous firm

Professional Honors

  • Rising Star, Project Finance in Australia, Asia-Pacific Legal 500, 2022

Professional Associations and Memberships

  • Law Institute of New South Wales
  • Asia Pacific Loan Market Association


  • High Court of Australia (2020)
  • Supreme Court of Victoria~Australia (2010)


  • (Bachelor of Laws (Honours) and Bachelor of Commerce) (2008)


  • English
  • Mandarin