find the latest legal job
Corporate/Commercial Lawyers (2-5 years PAE)
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Specialist commercial law firm · Long-term career progression
View details
Graduate Lawyer / Up to 1.5 yr PAE Lawyer
Category: Personal Injury Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Mentoring Opportunity in Regional QLD · Personal Injury Law
View details
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Full time · Join a leading Adelaide commercial law firm
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Sydney NSW
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Melbourne VIC
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
Developer eyes growth corridors with $80m financing

Developer eyes growth corridors with $80m financing

Three new capital management initiatives will give a residential property developer greater capacity to make strategic land purchases.

Firms: Allens (Villa World Ltd); King & Wood Mallesons (ANZ, Evans and Partners and Morgans); Jones Day (Morgans)

Deal: Villa World Ltd (Villa World) has sought three capital management initiatives in a bid to diversify funding.

Value: $80 million

Area: Finance

Key players: The Allens team advising Villa World was led by partners James Darcy and Julian Donnan. They were assisted by partners Stuart McCulloch and Karla Fraser, senior associates Addison Ma and Jacinta Dyer, as well as solicitors Melanie Hayden and Jess O’Sullivan.

Deal significance: Villa World is an ASX-listed residential property developer. The company has recently undertaken three capital management initiatives, that it says will contribute to strategic land purchases in promising growth corridors.

According to Allens, who advised Villa World on the transactions, one of the initiatives is a $50 million simple corporate bond offer, which is the third to have taken place since new laws were introduced in Australia three years ago.

James Darcy, one of the lead partners for the deal, said the transaction demonstrates the availability of the simple corporate bond structure for listed companies on a growth and funding diversification trajectory.

“We were delighted to support Villa World to achieve its funding diversification objectives through the issuance of a simple corporate bond,” Mr Darcy said.

The other two capital management initiatives are a $10 million share purchase plan and a fully underwritten $20 million equity placement.

“We look forward to seeing Villa World realise the benefits of the equity and debt raisings and move on to the next successful phase of their business,” joint lead partner Julian Donnan said.

The joint lead managers for the transactions were ANZ, Evans and Partners, and Morgans. Morgans was also the underwriter for the deals.

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

Developer eyes growth corridors with $80m financing
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Papua New Guinea flag
06:04
World-first mining case launched in PNG
Citizens of Papua New Guinea have launched landmark legal proceedings against the country’s govern...
06:03
Punishing offenders twice pointless, politicians warned
The president of the Law Society of NSW has warned legislators from other states about adopting cont...
Dec 13 2017
Young humanitarian lawyer California-bound
A young Australian lawyer will be travelling to the US next year for a prestigious nine-month study ...
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 & ...