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Clutz and HSF act on healthy $150m notes offer
Exclusive: Founding principals set sail for long-standing Aus firm:

Clutz and HSF act on healthy $150m notes offer

Clayton Utz and Herbert Smith Freehills have acted on an offer of subordinated notes by integrated healthcare provider Healthscope.

Firms: Clayton Utz (joint lead managers); Herbert Smith Freehills (Healthscope Group)

Deal: Offer by Healthscope of subordinated notes

Area: ECM

Value: $150 million with the ability to raise more or less

Key players: The HSF team was led by partner Tim McEwen, with partner Baden Furphy, senior associate Jade Winterburn and solicitor Laura Southwell also advising on the transaction.

Clutz Melbourne equity capital markets partner Brendan Groves (pictured)  led the firm's team, which included senior associate Elissa Tobin and lawyer Peter Hamblin, in advising the joint lead managers, comprising: Macquarie, Credit Suisse, UBS, ANZ, CBA, NAB and Westpac

Deal significance: The Notes II Offer is part of Healthscope's capital management strategy, with proceeds raised to be used to repay some of the Healthscope Group's senior debt.

Credit Suisse, Macquarie Capital and UBS are acting as Structuring Advisers to the offer.

 ‘ASX-listed notes currently remain one of the key strengths in Australia’s capital markets and we expect that these transactions will continue to drive activity in 2013 with a variety of subordinated notes offerings over the coming months,’ said McEwen. 

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