Clayton Utz is advising waste management group Transpacific Industries on a $1.5 billion refinancing package to resuscitate its debt-laden balance sheet.
Clayton Utz has advised the long-standing client in connection with its proposed equity capital raising of approximately A$309 million and new A$1.525 billion debt facility, just announced to the market.
Clayton Utz Brisbane corporate partners Andrew Hay and Tony Lalor led the firm's team on the equity side. The
raising comprises a 9 for 14 Accelerated Pro Rata Renounceable Entitlement Offer of ordinary shares at an issue
price of 50 cents per share.
A Clayton Utz finance team led by Melbourne Banking partner Marcus Davenport together with special counsel Greg
Potts and Sydney Banking partner Alexander Schlosser, advised TPI on its A$1.525 billion new syndicated debt
In July 2007, Hay led the Clayton Utz team that advised TPI on the corporate aspects of its A$1.2 billion
acquisition of the Cleanaway business, a multi-jurisdictional transaction which the Clayton Utz team turned around in a tight two-week timeframe, the firm said.
Transpacific Industries Group provides waste management, recycling and industrial services across Australia and