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 leads on Bandanna's $133m capital raising

Freehills leads on Bandanna's $133m capital raising

Freehills has advised Bandanna Energy Ltd on its $133 million capital raising, the institutional part of which was completed last night.

FREEHILLS has advised Bandanna Energy Ltd on its $133 million capital raising, the institutional part of which was completed last night. 

The deal comes after India's largest power utility, NTPC Ltd, announced it would not bid for the Australian coal explorer's assets as the price was not "viable", according to NTPC's chairman. 

Last month, Bandanna asked potential bidders to provide binding offers after shortlisting parties as part of a strategic review.

According to Indian media reports earlier this month, NTPC had planned to submit a final bid for Bandanna Energy assets. It is understood Jindal Steel & Power said it would also bid for Bandanna. 

Bandanna has 1.48 billion tonnes of JORC-compliant coal resources in exploration projects in the Bowen and Galilee basins, but the company has not had the capital to fund them, The Australian newspaper reports. 

The company's stock price fell more than 30 per cent early this month after India media speculated that proposed state laws could prevent the project going ahead. 

The institutional component of the capital raising was fully underwritten by UBS. 

Funds raised will be used to assist with developing key projects including securing Stage 1 capacity at Wiggins Island Coal Export Terminal and associated rail allocation.

Freehills Partner Philippa Stone led the transaction and was supported by lawyers Amy Goble, Lynda Tully, Ivan Yu, Carl Hornigold and Kirsten Shaw. 

Stone said “the teams across Bandanna, UBS and Freehills have worked hard to complete this transaction in difficult market conditions”.

Mallesons advised the underwriters UBS on the capital raising. The Mallesons team is being advised by partner Shannon Finch and solicitor Piny Ly.

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 leads on Bandanna's $133m capital raising
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice
Oct 19 2017
‘Ego status’ compelled ex-lawyer to defraud $2.97m, court told
Debarred lawyer John Gordon Bradfield told an NSW District Court that he was driven by “ego status...
Australian Lawyers Alliance (ALA), Queensland’s new industrial manslaughter legislation,
Oct 19 2017
ALA welcomes ‘tough’ Qld manslaughter laws
The Australian Lawyers Alliance (ALA) has welcomed Queensland’s new industrial manslaughter legisl...
Legal podcasts, tune in, microphone
Oct 19 2017
Legal podcasts you have to tune in to right now
The rise of the internet has hailed in a new dawn for storytelling. Here’s our top pick of podcast...
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 & ...