Allens Arthur Robinson this morning announced it is advising The GPT Group (GPT), one of Australia’s largest diversified listed property groups, on a capital raising to raise a minimum of A$1.2 billion.
The transaction is the most recent deal in a series of capital raising transactions that has kept the Allens equity capital markets team busy in recent months. The first recently worked on Aristocrat Leisure Limited's recent institutional placement, which raised $200 million.
Announcing the capital raising today, GPT required a very quick execution of the transaction, which comprises a non-renounceable 1 for 1 pro-rata entitlement offer to eligible security holders and a $120 million institutional placement.
The institutional component of the entitlement offer of approximately $1.1b and placement are fully underwritten, with the entitlement offer including a non underwritten retail component of approximately $470 million.
The Allens team was led by Sydney partner Anna Lenahan, with partner Vijay Cugati, senior associate Marc Kemp and lawyers Paul Mayson, Emma Leske and Chris Smith.
"This was an intensive deal which required a quick response and execution, so we are very pleased at how the team responded," Lenahan said.