The deal is evidence of the continued growth and depth of the payments industry, the firm says
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Baker McKenzie advised National Australia Bank (NAB) in relation to a $50m notes issue by a fintech company.
The global firm was the law firm of choice for the financial behemoth in its role as the sole lead manager and initial subscriber of the $50m notes issue by ASX-listed Afterpay.
Duncan McGrath, lead Baker McKenzie partner on the deal, said that the deal is evidence of the continued growth and depth of the payments industry.
Afterpay develops technologies used in the sector, servicing about 1.8 million customers via more than 14,000 retail merchants that use Afterpay products.
McGrath was supported by lawyer Andrew Slucky and graduate Sarah Lee on the deal. Baker McKenzie said that McGrath also led the team that recently advised NAB in its role as sole lead manager on the $41.2m notes issue by Kooragang Island Tank Terminals.
In January, Baker McKenzie acted for Afterpay on its $20m placement to American venture capital firm Matrix Partners. The firm’s team on the deal was led by partner Guy Sanderson, who was assisted by senior associates Tharani Dharmaraj and Lana Tian.
Baker McKenzie was NAB’s legal adviser in one of the largest ever investment fund floats on the ASX. The global firm also advised Afterpay on its $600mn merger with Touchcorp last year.
