find the latest legal job
Corporate/Commercial Lawyers (2-5 years PAE)
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Specialist commercial law firm · Long-term career progression
View details
Graduate Lawyer / Up to 1.5 yr PAE Lawyer
Category: Personal Injury Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Mentoring Opportunity in Regional QLD · Personal Injury Law
View details
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Full time · Join a leading Adelaide commercial law firm
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Sydney NSW
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Melbourne VIC
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
Clients overhaul capital raisings: law firms

Clients overhaul capital raisings: law firms

After the rush of capital raisings made last year as companies worked to shore up balance sheets and reduce debts, law firms say their clients are now looking to raise funds for specific purposes.

AFTER the rush of capital raisings made last year as companies worked to shore up balance sheets and reduce debts, law firms say their clients are now looking to raise funds for specific purposes.

Mallesons Stephen Jaques partner, Jason Watts, says companies are now looking for raise funds for specific deals, such as to pursue acquisitions.

Case in point is the recent capital raising in which Mallesons acted for the underwriter Credit Suisse, on an $80 million institutional placement for Australian Infrastructure Fund (AIX) to help fund its acquisition of an additional 2.21 per cent stake in Australia Pacific Airports Corporation (APAC), valued at around $75 million.

The acquisition will bring AIX’s total interest in APAC to 12.35 per cent.

AIX also announced that it has launched a fully underwritten institutional placement to raise $80m to fund the $75.1m cash acquisition of the additional stake in APAC. The balance of the capital raising will be used for transaction costs and general purposes.

Watts said the capital raising is a reflection of the current state of equity capital markets.

Mallesons’ role involved advising the underwriter on all legal aspects of the placement.

“The experience of our team allowed us to work within the usual tight timeframe for these deals,” Watts said.

Watts was assisted by solicitors Shabarika Ajitkumar and Esther Touma on the transaction.

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


Clients overhaul capital raisings: law firms
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Jackie Rhodes
06:04
Report sheds light on LGBTQI inclusion in law firms
A recent report has revealed the varying perceptions on LGBTQI diversity and inclusion in the Austra...
Women in business
06:00
Annabel Crabb headlines Women in Business Forum
Political journalist Annabel Crabb has appeared at the Coleman Greig Lawyers Women in Business Forum...
Dec 11 2017
Warm welcome for new district court judges
Three practitioners who were appointed as district court judges in WA have been congratulated by ...
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 & ...