Allens Arthur Robinson has acted for Bendigo and Adelaide Bank in an equity raising valued at A$300 million. The equity raising, announced today, comprises a 1-for-12 accelerated non-renounceable entitlement offer of ordinary shares to eligible retail and institutional shareholders to raise approximately $173 million, and a placement of ordinary shares to institutional investors to raise approximately $127 million.

Mallesons Stephen Jaques Acted acted for the joint lead managers and underwriters, J.P. Morgan Australia Limited and Macquarie Capital Advisers Limited.

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Key Players:

The Allens team was led by partner and co-head of Equity Capital Markets Robert Pick and partner Jon Webster, alongside senior associate Mark Malinas.

The Mallesons' team was led by partner Jonathan Hamer (pictured) and senior associate Will Heath.

Commentary:

"Bendigo and Adelaide Bank is a long-standing client of the firm and we are very pleased to have worked with them again on this capital raising," said Webster.

"Our deep understanding of the Bank's business and our close working relationship with its management, combined with the depth of experience of the Allens' capital markets team, meant that we were in a position to advise the Bank efficiently on all aspects of the transaction in what was a very compressed timetable for a prospectus offering," commented Pick.