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
Firms drill into Bow Energy deal

Firms drill into Bow Energy deal

Bow Energy last week launched a $78 million non-underwritten capital raising to fund a coal-seam gas exploration and other projects.

BOW Energy last week launched a $78 million non-underwritten capital raising to fund a coal-seam gas exploration and other projects.

Top tier law firm Freehills is advising Merrill Lynch and Wilson HTM Corporate Finance on the raising, which were appointed by Bow as joint lead managers of the placement.

The Freehills team was led by partner Tony Sparks, supported by lawyer Amy Hay.

The capital raising has been structured as an institutional fixed price placement of 42.1 million ordinary shares at a price of $1.15 per share to raise $48.4m.

It also includes a share purchase plan to eligible shareholders, which seeks to raise gross proceeds of up to $30m.

Freehills partner Sparks said the raising, together with other recent notable offers, is contributing to a slightly stronger end to the year for equity capital markets.

Chief executive John De Stefani said the success of the placement indicated strong support for Bow and its strategy.

“Bow is now in a strong position to fund ongoing exploration and appraisal activities, production pilots, field infrastructure and pipeline approvals as well as completion of Bow's 30 MW (megawatt) Blackwater power project (in Queensland),” De Stefani said.

He said the activities aimed at delivering commercial gas flows and early cash flow from electricity sales.

The company also sought to achieve gas reserves of 6,200 petajoules in the 3P or proved plus probable plus possible' category and 1,250PJ in the 2P or proved plus probable' category by the end of 2011 across its Bowen Basin CSG fields.

“Concurrently, Bow will continue with plans for the development of its reserves, targeting both domestic gas and export LNG markets,” De Stefani said.

Bow Energy last year undertook a $77 million capital raising, with a $40m share placement from institutional and sophisticated investors, and a share purchase plan to existing shareholders for $37m.

Brisbane law firm Hopgood Ganim last year advised Bow Energy on its capital raising.

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

Firms drill into Bow Energy deal
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
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....
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...
Oct 20 2017
Changes to Australian citizenship laws blocked
Attempts to beef up the requirements to obtain Australian citizenship were thwarted this week, after...
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 & ...