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Woodside deal represents change in capital raisings

Woodside deal represents change in capital raisings

Freehills is advising Woodside Petroleum on its announced $2.5 billion capital raising. _x000D_

FREEHILLS is advising Woodside Petroleum on its announced $2.5 billion capital raising. 

As reported by The New Lawyer yesterday, Woodside said it would raise the equity to strengthen its balance sheet and develop its liquefied natural gas projects in Western Australia. 

Mallesons Stephen Jaques acted for the joint lead managers, Citi, Credit Suisse and UBS on the deal. 

The Freehills team was led by partners Philippa Stone and David Gray, and supported by lawyers Jeremy Wickens, Sevan Gore and Sally Choi.

Freehills said it hopes to see an increase of raisings like this, in which companies position themselves for growth.

Freehills partner Philippa Stone said: "What differentiates the Woodside offer from many recent capital raisings is that it is being undertaken in preparation for further LNG development. We hope to see more raisings in the coming year by strong companies positioning themselves for growth."

Woodside is Australia's largest independent oil and gas producer. 

Freehills partner David Gray said: "The size of this offer is testament to the quality of Woodside’s asset base and market confidence in its growth plans. It points to exciting times ahead, as development of Australia’s hydrocarbon reserves accelerates. The Freehills team is well placed to continue to support our clients’ participation in these areas."

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Woodside deal represents change in capital raisings
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