$135m equity raising succeeds with help from JWS

The offer is part of a $400m fully underwritten finance package

$135m equity raising succeeds with help from JWS
Johnson Winter & Slattery (JWS) has advised Cooper Energy on a $135m equity raising.

The fully underwritten accelerated non-renounceable entitlement offer is part of a larger $400m finance package that also includes a $250m bank-debt facility that’s fully underwritten by ANZ and Nataxis and a $15m working-capital facility with ANZ.

The entitlement offer was announced late last month by Cooper Energy at the same time that it committed to the $355m Sole gas project off the Victorian coast. The finance package is a major deal for Cooper, as it equals its current market capitalisation.

John Keeves, JWS partner and head of transactional and advisory, led the firm’s team. He was assisted by the firm’s corporate team.

The firm also confirmed that partner James Marshall of its energy and resources team also advised Cooper Energy on negotiations with APA Group on the Orbost Gas Processing Plant and the purchase of the Sole gas project assets.

Grant Samuel also advised Cooper Energy. Euroz and Canaccord Genuity acted as joint lead managers while Taylor Collison acted as co-lead manager to the entitlement offer.

Related stories:
New partners and special counsel named at JWS
Seven firms lead in $1.1bn property portfolio sale

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