Login
Powered by
MOMENTUM
MEDIA
Powered by MOMENTUM MEDIA
Ashurst has advised on Challenger’s $250 million capital raising.
Firms: Ashurst (consortium).
Value: $250 million.
Area: Capital markets.
Key players: The Ashurst team was led by partner Sarah Dulhunty, assisted by senior associate Simon Vose and lawyer Kyle McLachlan.
Deal significance: The offer includes an institutional offer, a broker firm offer, a reinvestment offer and a securityholder offer.
Under the reinvestment offer, eligible holders of Challenger Capital Notes 1 (CCN1) are able to reinvest in Challenger Capital Notes 3.
In addition to the offer and reinvestment offer, eligible CCN1 holders may choose to have their CCN1 repurchased for their face value of $100 each, payable in cash.
Challenger intends to use the proceeds of the offer to fund the regulatory capital requirements of Challenger Life Company Limited, the registered life company of the Challenger Group, and to refinance the Challenger Capital Notes 1 (issued in 2014) through the reinvestment offer and repurchase invitation.
We're evolving — and so should your insights. Heads up — Lawyers Weekly is going premium from 1 May for just $5 a month. Stay informed without missing a beat. More information coming soon.
Get breaking news
Tony Zhang
