Firms: Allens (Caltex), Clayton Utz (joint lead managers), Freehills (trustee), Greenwoods & Freehills (tax adviser to Caltex)
Deal: Offer for Caltex subordinated notes
Area: Banking and corporate
Value: Caltex seeks to raise $300 million through the offer of the notes (with the ability to raise more or less),
which are dated, direct, unsecured, subordinated, cumulative and intended for listing on the Australian
Securities Exchange (ASX)
Key players: Partner Stuart McCulloch led the Allens team together with Robert Pick (Partner - Melbourne), Alan Maxton (Partner -Sydney), James Darcy (Partner - Melbourne), Robert Speed (Senior Associate - Sydney), James Wilson (Senior Associate - Sydney), Ben O'Hoy (Senior Associate - Melbourne), Kirsty Moore (Lawyer - Sydney), Rola Lin (Lawyer - Sydney), Shannon Thompson (Lawyer - Sydney), Naomi Hart (Law Graduate - Sydney)
Deal significance: Under the transaction, which was announced on 31 July, Caltex will offer the notes to institutional investors, broker firm applicants, eligible shareholders and members of the general public, at an issue price of $100 per note. According to partner Stuart McCulloch, the notes offer is expected to open on 9 August 2012.
“Our finance practice advised Caltex in relation to its medium-term note programme in late 2011,” said McCulloch.
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