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Freehills digs deep for Peet Ltd deal worth $81.5 m

Freehills digs deep for Peet Ltd deal worth $81.5 m

Freehills has advised national land syndicator, fund manager and asset manager Peet Limited in relation to a low-doc, accelerated rights issue to raise up to $81.5 million.The institutional…

Freehills has advised national land syndicator, fund manager and asset manager Peet Limited in relation to a low-doc, accelerated rights issue to raise up to $81.5 million.

The institutional component of the deal was completed in just three days, with the firm turning the work around in time for the 30 March deadline.

The institutional component raised $64.4 million. The retail component of the offer will close at the end of April.

Freehills partner Andrew Shearwood worked closely with Peet management to co-ordinate the institutional component of the raising within the three-day window.

"We enjoyed the challenge of successfully finalising the institutional raising in such a short time frame", he said.

"In circumstances like these, it is vital to be able to draw on Freehills' extensive experience to ensure that we can get the result our client is looking for, within tight deadlines."

UBS was lead manager for the rights issue and underwrote the institutional component of the offer, advised by Mallesons Stephen Jaques.

More details this afternoon when Lawyers Weekly speaks to lead partner Andrew Shearwood about the tight turnaround on the Peet Limited deal.

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