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Allens acts on league of pubs' capital raising

Allens acts on league of pubs' capital raising

Allens Arthur Robinson has advised Australia's largest listed freehold owner of pubs on its announced offer of unsecured notes, in a bid to raise $100 million.

ALLENS Arthur Robinson has advised Australia's largest listed freehold owner of pubs on its announced offer of unsecured notes, in a bid to raise $100 million.

The ALE Property Group will list the notes on the stock exchange in May.

ALR Property managing director, Andrew Wilkinson, said the funds would be used to replace debts due to mature next year.

To be known as ALE Notes 2, the offer is an important component of ALE Property’s capital structure, Allens said today.

Allens acted for ALE Property, with partner Stuart McCulloch, and a team including partner Matthew Allchurch and senior associate Eve Regnard, heading the team.

The firm has worked on a number of Ale Property's capital management initiatives over the past few years, said McCulloch.

'There is a lot of current interest in developing the corporate bond market in Australia, and in particular extending such issues to the retail market to provide issuers with greater diversity of funding options.”


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