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Mobile telecoms company advise on cap raise
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Mobile telecoms company advise on cap raise

Amaysim

Australian mobile and energy plans provider amaysim has been advised on capital raising and refinancing to support its “customer-focused growth”.

Firm: King & Wood Mallesons (amaysim)

Deal: KWM has advised amaysim on an underwritten $50.6 million accelerated non-renounceable pro rata entitlement offer at $0.60 per share together with the arrangement of $91 million in new senior debt facilities.

Value: $91 million

Area: Capital markets, banking

Key players: The KWM team was led by partners David Eliakim and Scott Gardiner, who were supported by senior associates Rahul Mukherkjee and Peixin Truong, as well as solicitors Gemma McMahon and Lawrence Normoyle.

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Deal significance: Proceeds from the raising will be used by amaysim to reduce debt and strengthen its balance sheet, supporting the company’s strategic growth initiatives, KWM said in a statement.

Mr Gardiner said: “We are pleased to have had the opportunity to support our long-standing client, amaysim, in strengthening their balance sheet position to facilitate the expansion of their innovative mobile and energy businesses.”

“It was a pleasure to work with the amaysim team and their advisers on a capital raising which was overwhelmingly supported by amaysim’s institutional investor base – a 97 per cent take up is very high by market standards,” Mr Eliakim added.

Jerome Doraisamy

Jerome Doraisamy

Jerome Doraisamy is a senior writer for Lawyers Weekly and Wellness Daily. He is also the author of The Wellness Doctrines book series, an admitted solicitor in NSW, an adjunct lecturer at The University of Western Australia and is a board director of Minds Count.

You can email Jerome at: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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