find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Freehills keeps foot in property door

Freehills keeps foot in property door

Freehills has been appointed to a $806 million entitlements offer by Lend Lease, the most recent of several deals with the client.

FREEHILLS has been appointed to a $806 million entitlements offer by Lend Lease.

The property developer client launched its planned capital raising to help finance new projects and stop its credit rating falling into junk status.

The offer is being conducted as a SAREO (single bookbuild accelerated renounceable entitlement offer), with institutions participating on an accelerated basis ahead of the retail offer. Any shortfall will be dealt with by way of a single bookbuild after the close of the retail offer.

The new equity is set to help the company keep its Baa3 and BBB-, the lowest rungs of investment grade with Moody’s and Standard & Poor’s. It should also allow Lend Lease to continue its project pipeline, which has been boosted by about $12 billion in the past six months.

Freehills lead partner, Justin O’Farrell, attributes part of the company’s recent success to the appointment of Steve McCann as Lend Lease CEO last year. “[Since then] Lend Lease’s success rate on projects has been phenomenal, and this raising should further assist.”

O’Farrell led the team advising Lend Lease and worked closely with senior associate Robert Bileckij and solicitors Wendy Ko and Jamie Stollery.

The low-doc deal was put together in an intensive time frame, the firm said, following Lend Lease’s success on a string of acquisitions and major developments, such as the $6 billion Barangaroo development, on which Freehills is also acting.

O’Farrell also acted on the Lend Lease stapling deal late last year and on the launch of its new Lend Lease Real Estate Partners 3 fund, which is preferred bidder for a portion of the ING Real Estate portfolio.

The Freehills team worked closely on the deal with Lend Lease general counsel, William Hara.

“[The general counsel’s] no-nonsense and professional approach are a pleasure to deal with’, O’Farrell said.

The underwriters to the rights offer are Royal Bank of Scotland and Merrill Lynch.

KNOW MORE? HAVE A DEAL?

POST YOUR COMMENTS BELOW

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 keeps foot in property door
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
microphone
Oct 20 2017
Podcast: One of law’s most infamous alumni – in conversation with Julian Morrow
In this episode of The Lawyers Weekly Show, Melissa Coade is joined by The Chaser’s Julian Morrow....
protest
Oct 20 2017
High Court overturns ‘excessive’ anti-protest legislation
Bob Brown’s recent victory in the High Court over the Tasmanian government was a win for fundament...
Blocked
Oct 20 2017
Changes to Australian citizenship laws blocked
Attempts to beef up the requirements to obtain Australian citizenship were thwarted this week, after...
APPOINTMENTS
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'...
opinion
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...
Help
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 & ...