find the latest legal job
Senior Associate - Competition, Policy & Regulatory
Category: Other | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Work with a well regarded Partner · Sydney CBD
View details
Commercial Litigation Senior Associate
Category: Litigation and Dispute Resolution | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Lawyers Weekly Australia Partner of the Year 2016, Insolvency
View details
MULTIPLEX Regional Legal Counsel (Vic) | 7 to 10 years + PQE
Category: Generalists - In House | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Career defining in-house role · Tier One international contractor
View details
Junior Lawyer - Personal Injury Law
Category: Personal Injury Law | Location: Parramatta & Western Suburbs Sydney NSW
· Highly specialized practice · Challenging role with great opportunities
View details
IR Advisor/Member Advocate
Category: Industrial Relations and Employment Law | Location: St Leonards NSW 2065
· Permanent (0.8-1.0 FTE) role in a developing team
View details
Freehills, top tier, on Transpacific capital raising

Freehills, top tier, on Transpacific capital raising

Freehills, Clayton Utz and Mallesons have each scooped a position on the Warburg Pincus investment in Transpacific's $800 million capital raising.

Freehills, Clayton Utz and Mallesons have each scooped a position on the Warburg Pincus investment in Transpacific's $800 million capital raising. 

The equity investment is set to go ahead with a recapitalisation plan released to the market. 

It involves a renounceable entitlement offer, which will follow the $800 million private equity placement, giving chairman Terry Peacbody to subscribe to $70 million worth of new shares, Business Spectator reports today. 

The net proceeds will be used to reduce Transpacific's debt to its banking syndicate, close out a portion of its interest rate swap contracts and as working capital, Freehills said of the deal. 

Warburg, meanwhile,  has just abandoned its stake in China's Huiyuan Juice.

The process has been long-coming for Transpacific, which was advised by Clayton Utz, as well as Macquarie Capital and Deutsche Bank. 

Freehills worked with Freshfields Bruckhaus Deringer in advising Warburg Pincus. Mallesons, meanwhile, advised on the underwriting agreements. 

The Freehills team was led by partner Mark Crean, who worked with partner Patrick Lowden and senir associate Faith Sing. Philippa Stone, the equity markets expert and M&A partner in Sydney, as well as partner Peter Dunne, gave specialist input. 

The wide-ranging input came due to the nature of the deal, Crean said. "The deal ... blended M&A, capital markets and private equity fund issues."

Cornerstone investments has been relatively uncommon in the Australian market, until now, said Crean. "We are seeing more listed entities increasingly considering PIPEs funding form private equity and other cornerstones as a source of capital," he said. 

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Freehills, top tier, on Transpacific capital raising
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Human body, illegal organ trafficking, ALHR
Sep 22 2017
Australia poised to combat illegal organ harvesting: ALHR
The Australian Lawyers for Human Rights are calling for changes to the law so that organ trafficking...
Online service, barristers, BarristerSELECT, Stephen Foley
Sep 22 2017
New online service leverages barristers’ clerks to aid briefing
A new online tool has been launched to help NSW solicitors find the most suitable barristers for the...
NSW District Court judge, Tim Gartelmann SC, next appointment,
Sep 22 2017
Silk replaces outgoing NSW District Court judge
A barrister has been named as the next appointment to the NSW District Court, following the retireme...
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...