Freehills is advising J.P.Morgan Australia Limited (J.P.Morgan) and UBS AG, Australia Branch (UBS) on their underwriting of Australand Property Group’s entitlement offer to raise $475 million.
The capital raising is to strengthen Australand’s balance sheet and meet anticipated funding requirements.
The significant existing securityholder CapitaLand has also committed to take-up its full entitlement as part of the offer.
The Freehills team is led by partner Tony Sparks and supported by senior associate Amy Goble and lawyer Sally Choi.
Freehills’ partner Tony Sparks said: ‘This offer includes many of the features of recent capital raisings—a ‘low-doc’ accelerated offer, executed in a very short timeframe, with the pre-committed support of existing ‘cornerstone’ investors.’
Freehills’ award winning teams have advised on many of the cornerstone investments of late including advising Warburg Pincus on its cornerstone investment in Transpacific Industries Group Limited, Fisher & Paykel on its cornerstone placement and GIC Real Estate on its investment in the GPT Group.
Mallesons Stephen Jaques advised Australand.
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