Freehills is acting for Metcash Trading Limited in connection with its institutional and retail offer of Convertible Unsecured Loan Stock (CULS) on the Australian and New Zealand stock exchanges, which is expected to raise approximately $750 million. The offer is being conducted in four parts. The first two elements, which are complete, include an institutional offer and institutional bookbuild of any CULS not accepted. The remaining retail offer and the institutional retail bookbuild of any CULS not accepted by the retail holders is pending completion.Freehills’ role included advising on the prospectus and offer structure. The team included partners Rob de Boer, Martin Shakinovsky and Rebecca Maslen-Stannage and solicitors Janine Ryan and Nick Clarke. Rob de Boer said: “This capital raising is designed to partially finance Metcash’s capital reorganisation by delivering equity funding certainty to support the acquisition of its controlling shareholder’s stake in Metcash, as well as allowing Metcash management the flexibility to optimise Metcash’s capital structure for various potential outcomes of the capital reorganisation and Metcash’s takeover bid for Foodland.”