find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
A&O acts on groundbreaking Social deal

A&O acts on groundbreaking Social deal

Allen & Overy has advised on the first-ever issuance of social benefit bonds in Australia.

Firm: Allen & Overy (Social Ventures Australia)

Deal: Australia’s first-ever foray into social benefit bonds: Social Ventures Australia’s $7 million social benefit bond issuance for the funding of the UnitingCare Burnside Newpin Program

Area: Project finance

Value: $7 million

Key players: The Allen & Overy team acting on the social benefit bond issuance was led by Sydney-based partner Adam Stapledon (pictured), with support from Sydney-based senior associate James Abbott and associate Andrew Daidone

Deal significance: The UnitingCare Burnside Newpin Program works with Australian children living in foster care to return them safely to their families. The social benefit bonds were issued to a combination of high-net worth and institutional investors. The minimum investment in the bond was $50,000 and it has an investment return target of 10 to 12 per cent per annum depending on the number of successful restorations of children from foster care. The transaction marks Australia’s first-ever foray into social benefit bonds, which were pioneered in the UK, where investors fund the delivery of services that seek to increase social outcomes.

Adam Stapledon said of the transaction: “We are delighted to have assisted Social Ventures Australia on this innovative transaction. We have worked closely with Social Ventures Australia since Allen & Overy’s establishment in Australia and it is rewarding to have applied global best practice commercial techniques with a view to achieving an improvement in the lives of children in foster care.”

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

A&O acts on groundbreaking Social deal
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
LCA president Fiona McLeod SC
Aug 17 2017
Where social fault lines meet the justice gap in Aus
After just returning from a tour of the Northern Territory, LCA president Fiona McLeod SC speaks wit...
Marriage equality flag
Aug 17 2017
ALHR backs High Court challenge to marriage equality postal vote
Australian Lawyers for Human Rights (ALHR) has voiced its support for a constitutional challenge to ...
Give advice
Aug 17 2017
A-G issues advice on judiciary’s public presence
Commonwealth Attorney-General George Brandis QC has offered his advice on the public presence of jud...
APPOINTMENTS
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'...
opinion
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...
Help
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 & ...