$50m ECM transaction goes ahead

By Emma Ryan|12 October 2017

Ashurst and Allen & Overy have advised in an equity capital markets deal worth $50 million.

Firms: Ashurst (Australian Unity Investment Real Estate Limited); Allen & Overy [Credit Suisse (Australia) Limited (CS) and UBS AG, Australia Branch (UBS)]

Deal: An accelerated non-renounceable entitlement offer of units in Australian Unity Office Fund

Value: $50 million

Area: Equity capital markets

Key players: The Ashurst legal team was led by corporate partner Sarah Dulhunty, with assistance from global loans partner Jock O’Shea.

Deal significance: Ashurst’s role in this transaction saw it advise Australian Unity Investment Real Estate Limited (AUIREL) as the responsible entity for the Australian Unity Office Fund (AOF).


According to a statement from the firm, under the Entitlement Offer of $50 million, eligible unitholders in AOF are invited to subscribe for 1 new ordinary unit for every 6.25 AOF units held at the record date.

“The Entitlement Offer is being underwritten by Credit Suisse (Australia) Limited and UBS AG, Australia Branch,” the firm’s statement said.

“The proceeds of the Entitlement Offer will go towards partially funding AUIREL’s acquisition of the office property located at 150 Charlotte Street, Brisbane.

“The balance of the consideration for the acquisition will be funded through an extension of AOFs debt facilities with a new $70 million, five-year tranche.”




$50m ECM transaction goes ahead
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