Login
Flight Centre advised on $400m capital raising
King & Wood Mallesons has advised Flight Centre on its $400 million capital raising, which will be used to “further strengthen” the travel giant’s liquidity position.
Emma Musgrave
Firm: King & Wood Mallesons (Flight Centre)
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
Deal: Flight Centre has been advised in relation to its issuance of $400 million unsecured notes which are convertible into Flight Centre ordinary shares.
Value: $400 million
Area: Capital markets
Key players: The team advising Flight Centre was led by King & Wood Mallesons partners Paul Schroder, Philip Harvey and Dale Rayner and included senior associate John Arthur and solicitors Georgia Feltis, Stephanie Rigg, Hayley Johnson and Wendy Yuan.
Fellow King & Wood Mallesons partner Tim Sherman and senior associate Sylvester Urban advised Flight Centre on the tax implications of the offer, a statement confirmed.
Deal significance: According to a statement from King & Wood Mallesons, proceeds from this offering will primarily be used to further strengthen Flight Centre’s liquidity position in addition to repaying $100 million in existing debt.
“We are delighted to have once again worked with Flight Centre on this convertible notes offering as they look to improved conditions for travel with easing restrictions, particularly in Australia, while also ensuring they remain prepared for almost all scenarios including a prolonged downturn,” Mr Schroder said.
