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
Mallesons doubles up on capital raisings

Mallesons doubles up on capital raisings

Mallesons Stephen Jaques is advising the underwriters of two significant capital raisings announced this week, with partner Dave Friedlander acting as lead partner on both transactions.The…

Mallesons Stephen Jaques is advising the underwriters of two significant capital raisings announced this week, with partner Dave Friedlander acting as lead partner on both transactions.

The larger of the two transactions is the Santos capital raising, valued at $3 billion dollars. Mallesons is advising Citigroup, Deutsche and JPMorgan on the capital raising for Australian oil and gas producer Santos.

Friedlander said the Santos capital raising stood out on its own merits, despite the significant volume of equity raisings already completed this year.

"Even Australia's extraordinary wall of equity raisings this year could not make you blasé about the achievement of Santos in successfully launching its $3 billion capital raising this week," he said. "The deal was well executed, well timed and highlighted the strength of its business and management team.

He said Freehills and Sidley Austin, for the company and Mallesons, and Sullivan & Cromwell, for the underwriters, had to get through "a lot of work" to bring this to market, but it was made easy by the company and the cooperation between the teams.

"Most importantly, the underwriting syndicate of Citigroup, Deutsche and JPMorgan was cohesive and effective in building a solid book of institutional demand and sub-underwriting for the retail tranche of the deal," said Friedlander.

Santos has announced a two-for-five accelerated pro-rata, non-renounceable entitlement offer at a price of A$12.50 per share. The offer comprises a fully underwritten institutional component, which will raise a minimum of A$1.65 billion and a non-underwritten retail component, which may raise up to A$1.35 billion.

The capital raised will be used to fund the Papua New Guinea LNG project and FUELS redemption.

It's been a busy period for Friedlander, who is also lead partner advising on the PacBrands $256m capital raising, advising underwriters UBS. "Hopefully our mums will forgive us all for being a little distracted on Mothers Day," he quipped.

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

Mallesons doubles up on capital raisings
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice
Dec 15 2017
Timing ‘critical’ in unusual contempt of court ruling
A recent case could have interesting implications for contempt of court rulings, according to a Ferr...
Dec 14 2017
International arbitration and business culture
Promoted by Maxwell Chambers. This article discusses the impact of international arbitration on t...
Papua New Guinea flag
Dec 14 2017
World-first mining case launched in PNG
Citizens of Papua New Guinea have launched landmark legal proceedings against the country’s govern...
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 & ...