Login
Dalrymple Bay Infrastructure completes billion-dollar IPO
Herbert Smith Freehills has advised Dalrymple Bay Infrastructure Limited on its initial public offering worth over $1 billion.
Emma Musgrave
Firm: Herbert Smith Freehills (Dalrymple Bay Infrastructure Limited).
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
Deal: Dalrymple Bay Infrastructure Limited (Dalrymple Bay Infrastructure) has completed an IPO.
Value: The IPO is priced at A$2.57 per stapled security, raising $1.286 billion.
Area: Equity capital markets.
Key players: The team who advised Dalrymple Bay Infrastructure was led by partners Philippa Stone, Sian Newnham and Melissa Swain-Tonkin, who co-ordinated lawyers from across the firm’s practice groups.
The cross-practice team advising on the deal included partners Adam Strauss and Nicole Pedler, special counsel Rob Finlay, consultant James Graham, senior associates Alex Mackinnon, Lauren Selby and Nick Alexander and solicitors Emily Reyher, Lucinda Grant, Barry Wang, Eloise O’Brien, Shananne Joyce, Jessica Palazzolo, Louis Jennings, Joseph Swaysland, Henry Meehan, Madeleine Ryan and James Rigby.
Partners Melita Cottrell, Erin Wakelin and Patrick Lowden, senior associate Arnica Mullins and solicitors Jason Lu and Katherine Duong acted on financing aspects.
Partner Jinny Chaimungkalanont, consultant Richard Giannone and senior associate Danielle Rostirolla assisted from the firm’s stamp duty practice.
The firm’s US securities law team acted on the US element of the IPO, with the US deal team led by partner Siddhartha Sivaramakrishnan and consultant Elizabeth Bramon, according to a statement from the firm.
Deal significance: Dalrymple Bay Infrastructure is described by HSF as an Australian infrastructure company that holds the 99-year lease (including options) of the Dalrymple Bay Terminal (DBT). The firm’s statement noted it is the world’s largest export metallurgical coal facility and provides a critical link in the global steelmaking supply chain.
“This was a large and complex IPO of export infrastructure, which is vital to the regional and national economy and generates strong regulated revenues,” Ms Stone added.
“We are delighted to have been associated with this important project for a valued client.”
Commenting further, Ms Newnham said: “We are very pleased to have assisted DBI on this important transaction. We look forward to continuing our relationship with DBI as it commences its life as an ASX-listed company.”
