Firms: Allen & Overy (Citigroup) Clayton Utz (Bank of Queensland)
Deal: Fully underwritten accelerated non-renounceable pro rata entitlement offer and institutional placement by Bank of Queensland's (BOQ)
Value: $450 million
Key players: A&O’s team included Sydney-based partner Tony Sparks, supported by corporate senior associates Anand Sundaraj and Ashley Rose. Brisbane partner Tim Reid led the Clayton Utz team with senior associate Natalie Krahe. The team also includes Sydney partner (and equity capital markets national practice head) Stuart Byrne and senior associate Patricia Paton.
Deal significance: This transaction is the largest rights offer by an Australian-listed issuer in 2012. Citigroup, a leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. The offering, which was announced on 26 March and is fully underwritten, is being made pursuant to section 708AA of the Corporations Act.