Freehills is advising Merrill Lynch (International) Australia Limited and UBS AG, Australia Branch, joint lead managers to Mirvac Group’s announced approximately $350 million capital raising by way of a fully underwritten institutional placement of stapled securities. Mirvac Group is also conducting a $150 million non-underwritten security purchase plan.
The capital raising is being conducted to provide the Group with capacity for further acquisitions and working capital requirements.
The Freehills team was led by partner Philippa Stone and supported by senior associate Faith Sing and lawyer Sally Choi.
Freehills partner Philippa Stone said, ‘It was great to work with Merrill Lynch and UBS on this offer in continuance of a long and valued relationship.’
Freehills’ award-winning equity capital markets team has advised issuers or underwriters on many of Australia’s largest recent capital raisings, including acting for Miclyn Express Offshore and Myer on their recent IPOs, and Woodside, Santos, Elders, BBI/Prime, Lend Lease and FKP Property Group on recent secondary raisings, and for 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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