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Energy company plans growth with capital-raising

Energy company plans growth with capital-raising

More than one billion dollars has been raised in an equity capital raising by a major producer of oil and gas.

Firms: King & Wood Mallesons (joint lead managers Morgan Stanley and Deutsche Bank); Herbert Smith Freehills (Santos Ltd);

Deal:  Santos Ltd has finalised its latest capital raising to the tune of $1.5 billion.

Value: $1.5 billion

Area: Finance

Key players: The King & Wood Mallesons team advising the joint lenders for the deal was led by partners David Eliakim and David Friedlander (pictured). Solicitors Akshay Naran and Anna Chen supported the equity raising from London.

Deal significance:

Morgan Stanley and Deutsche Bank acted as the joint lenders in the billion-dollar capital raising.

The capital raising encompasses both a fully underwritten institutional share placement to raise $1,040 million and a Share Purchase Plan that is expected to raise up to $500 million.

A statement released by KWM said the deal will allow the company to “take advantage of strategic growth opportunities”.

Partner David Friedlander said the firm offered a strong track record in significant capital raising initiatives.

“The proceeds from the Institutional Placement and SPP will strengthen Santos’ financial standing,” Mr Friedlander said.

KWM also provided advice for Santos’ $3.5 billion capital raising in late 2015.

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