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Freehills guides $80 million placement
Freehills partner Simon Haddy and executive counsel Amy Goble advised Australian Infrastructure Fund (AIF) on its recent $80 million placement. The placement was fully underwritten by Credit…
Lawyers Weekly
Freehills partner Simon Haddy and executive counsel Amy Goble advised Australian Infrastructure Fund (AIF) on its recent $80 million placement.
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The placement was fully underwritten by Credit Suisse, with the funds raised being used to acquire an additional 2.21% stake in Australia Pacific Airports Corporation (APAC) which owns Melbourne and Launceston Airports.
According to Freehills, the placement was successfully conducted over a very short timeframe against a backdrop of challenging markets.
Simon Haddy said of the placement: "AIF needed to go to market on a very short timeframe, so that it could increase its APAC stake when the opportunity arose. AIF's success shows that the market continues to support capital raisings for strategically compelling acquisitions."
Amy Goble added: "Having acted on AIF's rights issue in 2009 we were well placed to understand AIF's objectives and help AIF quickly take advantage of this opportunity."
This deal sees a continuation of Freehills' work on many of Australia's largest and most recent capital raisings, including acting for Miclyn Express Offshore and Myer on their IPOs, and Elders, Santos, Woodside and Lend Lease on recent secondary raisings, and for the underwriters on numerous raisings including those by Kathmandu on its IPO, and Rio Tinto's US$15.4 billion rights offer.
