Freehills is advising AWB Limited (AWB) on its fully underwritten entitlement offer and institutional placement to raise $459 million.
The offer is structured as a 1 for 1 accelerated non-renounceable entitlement offer and placement. The proceeds of the raising will strength AWB's balance sheet and provide financial flexibility through the subsequent reduction in net debt.
The Freehills team advising AWB was led by partner Tim McEwen (pictured right) and supported by senior associate Amy Goble and lawyer Cecilia Mehl.
Freehills partner Tim McEwen said, "This capital raising was very important for AWB and will position AWB favourably going forward and enhance its future strategic options. It was a pleasure to work closely with a strong management team to achieve a great result for the company."