Value: $225 million

Area: Banking and finance

Key players: Allens provided both legal and taxation advice, with the corporate team headed by partners Robert Pick and Julian Donnan (pictured) and the tax team by partner Martin Fry.

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Deal significance:

The transaction follows the issue of similar convertible preference shares (known as CPS2) late in 2014.

“The transaction is predicted to further strengthen Bendigo and Adelaide Bank’s Tier 1 Capital ratio and support the bank’s ongoing balance sheet growth,” a statement from Allens said. “The early completion of the bookbuild indicated a strong level of demand for the offer.”

Mr Donnan said it was pleasing to see investor support for CPS3 under the bookbuild.

“As with CPS2, this has allowed the bank to not only increase the offer size, but to set the margin at the bottom of the indicative range.”