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Flight Centre advised on $400m capital raising

King & Wood Mallesons has advised Flight Centre on its $400 million capital raising, which will be used to “further strengthen” the travel giant’s liquidity position.

November 18, 2020 • By Emma Musgrave
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Paul Schroder
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Firm: King & Wood Mallesons (Flight Centre)

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Deal: Flight Centre has been advised in relation to its issuance of $400 million unsecured notes which are convertible into Flight Centre ordinary shares. 

 
 

Value: $400 million 

Area: Capital markets

Key players: The team advising Flight Centre was led by King & Wood Mallesons partners Paul Schroder, Philip Harvey and Dale Rayner and included senior associate John Arthur and solicitors Georgia Feltis, Stephanie Rigg, Hayley Johnson and Wendy Yuan.

Fellow King & Wood Mallesons partner Tim Sherman and senior associate Sylvester Urban advised Flight Centre on the tax implications of the offer, a statement confirmed.

Deal significance: According to a statement from King & Wood Mallesons, proceeds from this offering will primarily be used to further strengthen Flight Centre’s liquidity position in addition to repaying $100 million in existing debt.

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“We are delighted to have once again worked with Flight Centre on this convertible notes offering as they look to improved conditions for travel with easing restrictions, particularly in Australia, while also ensuring they remain prepared for almost all scenarios including a prolonged downturn,” Mr Schroder said.

 

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Emma Musgrave

Emma Musgrave

Author

Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.

Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences. 

Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.

She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University. 

Email Emma on: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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