find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
ASIC's new class order relief utilised

ASIC's new class order relief utilised

Freehills has announced it is advising on the first convertible bond to utilise ASIC's new class order relief. Freehills is acting for Paladin Energy Ltd (Paladin) on its offer of $US300 million…

Freehills has announced it is advising on the first convertible bond to utilise ASIC's new class order relief.

Freehills is acting for Paladin Energy Ltd (Paladin) on its offer of $US300 million of senior, unsecured convertible bonds due 2015 (Offer), which was made to institutional, professional and sophisticated investors.

The proceeds of the Offer will be used to fund Paladin's concurrent tender offer to acquire from eligible bondholders its $US250 million issue of convertible bonds due in December 2011 (on which Freehills is also acting), with any amount not applied to the tender offer being utilised to fund in part the proposed expansion of the Langer Heinrich Mine and to pursue future growth opportunities.

The Joint Bookrunners and Joint Lead Managers are Barclays Capital and J.P. Morgan and the co-manager is Société Générale Corporate & Investment Banking.

The Freehills team is being led by partners Philippa Stone and Patrick Lowden, who are supported by lawyers Ivan Yu and Laura Cameron.

Lowden said of the deal: "One of the interesting aspects was the concurrent offer of new convertible bonds and tender offer for existing bonds, with the offer of new bonds being used to fund the tender offer. As more Australian companies look to the capital markets to fund themselves, liability management transactions of this kind can be expected to become more common."

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

ASIC's new class order relief utilised
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice, ALA, right-to-die law
06:04
‘Right-to-die’ laws would be a relief for terminally ill: ALA
The passage of an assisted dying bill through the lower house of Victorian Parliament has been haile...
Diversity
06:00
Diversity top of agenda for future WA Law Society president
The advancement of diversity in the Western Australian legal profession will be one of the key items...
Jetski
Oct 23 2017
How to fail well
The legal profession is due for an attitude adjustment when it comes to perceived failures, accordin...
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 & ...