Freehills is advising Macquarie Capital Advisers Limited, lead manager to ALE Property Group’s announced approximately $100 million capital raising by way of an offer of unsecured loan notes (ALE Notes 2).
ALE Notes 2 are unsecured notes which pay a floating rate of interest. ALE Property Group is Australia’s largest freehold owner of pubs with a portfolio of 89 properties across the five mainland states of Australia.
The Freehills team was led by partner Philippa Stone and supported by senior associate Faith Sing and lawyers Carl Hornigold and Sally Choi.
Freehills partner Philippa Stone said, ‘It was great to work with Macquarie Capital Advisers and ALE Property Group on this offer. ASIC has recently foreshadowed that they may act to simplify regulatory requirements applying to retail note offerings, and this is an area where we hope to see more activity in the future.’
Freehills’ award-winning equity capital markets team has advised issuers or underwriters on many of Australia’s largest recent capital raisings, including acting for Myer on its IPO, and Woodside, Santos, Elders, BBI/Prime, Lend Lease and FKP Property Group on recent secondary raisings. Freehills has also advised the underwriters on numerous raisings including those by Rio Tinto, Kathmandu, CSR, Challenger Diversified Property Group, Australand Property Group and DEXUS Property Group.
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