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Mallesons advises Aussie insurer

Mallesons advises Aussie insurer

Mallesons Stephen Jaques and Chapman Trip have advised on a million dollar New Zealand bond issue.Under the deal, Insurance Australia Group (IAG) offered $118.9 million worth of 25-year senior…

Mallesons Stephen Jaques and Chapman Trip have advised on a million dollar New Zealand bond issue.

Under the deal, Insurance Australia Group (IAG) offered $118.9 million worth of 25-year senior unsecured subordinated bonds.

ANZ, Bank of New Zealand, Craigs, Forsyth Barr and UBS will act as joint lead managers for the bond issue.

IAG will use the capital raised for its ongoing capital management program and for future refinancing requirements.

The Mallesons team was led by partners Shannon Finch and Anne-Marie Neagle who were supported by senior associate Charlie Detmold.

NZ firm Chapman Tripp also acted.

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