Firms: Clayton Utz (Macquarie Capital and UBS), KWM (Echo Entertainment Group Limited)
Deal: Accelerated renounceable entitlement offer. The offer was underwritten by Macquarie Capital (Australia) Limited and UBS AG, Australia Branch.
Value: $454 million
Key players: Clayton Utz partners Stuart Byrne (pictured) and Alex Schlosser, along with senior associates Patricia Paton and Elissa Tobin, advised Macquarie Capital and UBS. The KWM team included: John Humphrey; Shannon Finch; Meredith Paynter; Patrick Gunning; Lee Horan; Ken Astridge; Scott Heezen and Moira Saville.
Deal significance: “The capital raising was not run-of-the-mill as it involved lawyers from a number of our practice groups, including equity capital markets, banking and finance, regulatory issues and tax. Hard work by the company, the underwriters and each of their advisers assisted in getting the transaction done in the extremely tight frame available,” said Humphrey. “We have successfully worked with Echo to secure a revised capital structure that will provide a stable platform for growth and assist it with further development of its dynamic and strongly-growing international rebate business.”
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