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Seven West raises $440 million

Seven West raises $440 million

Ashurst and Freehills have helped Seven West Media raise millions.

Firms: Ashurst (underwriters CBA Equities, Goldman Sachs, JP Morgan & UBS) Freehills (Seven West Media Limited (ASX: SWM))

Deal: Underwritten accelerated renounceable entitlement offer

Area: Corporate

Value: $440 million

Key players: Sarah Dulhunty led for Ashurst. Rebecca Maslen-Stannage led for Freehills with support from senior legal associate Jennifer Harding. 

Deal significance: SWM announced yesterday (16 July) that it will raise up to approximately $440 million via an accelerated, renounceable pro-rata entitlement offer. SWM's two largest shareholders, Seven Group Holdings Limited (through its subsidiaries) and Kohlberg Kravis Roberts & Co (KKR) have committed to take up their full entitlement and the remainder of the entitlement offer is underwritten. The proceeds will be used primarily to pay down existing debt.

 

 

Like this story? Read more:

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NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Seven West raises $440 million
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