Freehills is advising Ramsay Health Care on its underwritten institutional placement to raise approximately $220 million and a non-underwritten Share Purchase Plan (SPP) to raise up to an additional $40 million.
Ramsay Health Care is Australia’s largest private hospital operator and has grown to become a global hospital group operating over 100 hospitals and day surgery facilities across Australia, the United Kingdom and Indonesia.
The Freehills team was led by partner Tony Sparks and supported by senior associate Faith Sing, solicitor Steve Drummond and lawyer Malika Chandrasegaran.
Freehills partner Tony Sparks said, ‘This offer is yet another recent example of issuers raising capital in more positive circumstances to fund future growth opportunities. It is particularly notable to see healthcare companies starting to access equity capital again given how well that sector has performed during the GFC’.
Freehills’ capital markets team has advised on many of Australia’s largest recent significant placements, including those by Ten Network, Lend Lease, CFS Retail Property Trust, Transfield Services and the $2 billion placement by the Commonwealth Bank (awarded the Equity Market Deal of the Year at the 2009 ALB Australasian Law Awards). Freehills has also advised issuers or underwriters on many of the recent large entitlement offers including the offers by Santos, Amcor, Virgin Blue, GPT Group and Suncorp-Metway.
Goldman Sachs JBWere is acting as sole Lead Manager, Bookrunner and Underwriter to the Ramsay institutional placement.
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