Allens capital markets team helps clients raise more than $4bn since start of April

As the pandemic continues, the firm has worked on seven deals to help clients through disruption

Allens capital markets team helps clients raise more than $4bn since start of April
Robert Pick and Julian Donnan

The capital markets team at Allens has been busy helping clients raise funds amid the COVID-19 pandemic.

In seven deals since the start of April, Allens has advised on transactions that have raised more than $4bn in capital.  The top-tier firm has confirmed that it advised the following clients on the following transactions:

  1. IDP Education on its $240m placement and share purchase plan;
  2. Reece on its $600m placement, accelerated renounceable entitlement offer and share purchase plan;
  3. Oil Search on its $1.16bn placement and accelerated renounceable entitlement offer;
  4. G8 Education on its $301m placement and accelerated renounceable entitlement offer;
  5. UBS and Macquarie as the underwriters of Flight Centre's $701m placement and accelerated renounceable entitlement offer;
  6. QBE on its $1.2bn placement and share purchase plan; and
  7. Bapcor on its $180m placement and share purchase plan.

“In this period of uncertainty, we value the opportunity to help our long-standing clients raise equity that will assist them to move through the current disruptions to their businesses and be in the best position to thrive when economic conditions improve,” said partner Robert Pick.

Pick is the Melbourne-based co-head of the Allens capital markets team, which is also jointly led by Sydney-based partner Julian Donnan.

“While capital raisings remain beholden to market conditions and investor appetite, the Australian regulatory environment – including the recent temporary changes introduced by ASIC and ASX – continues to facilitate an effective environment for ASX-listed issuers to raise capital quickly, efficiently and with certainty,” Donnan said.

In addition to Pick and Donnan, the Allens team also included partners Richard Kriedemann, Chelsey Drake, and Stuart McCulloch. Senior associates Addison Ma, Adrian Amer, Patrick McGregor, and Tom Hall also advised on the deals.

Also assisting were associates Nick Twomey, Elise Blume, Lisa Gao, Natasha Ng, Aidan Shanley, Keenan Chiu, Jewell Zhu, Dixon Song, and John Jacob, as well as lawyer Jack Baldwin.

Allens also recently confirmed that it advised the syndicate of lenders on Resolute Mining’s refinanced loan facilities, which are worth US$300m. It also recently worked on the “inherently complicated” refinance of a motorway in Sydney.

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