The firm previously advised the company in $270m worth of placements
Herbert Smith Freehills (HSF) has continued its capital-raising work for a long-term client with its work on its latest hundred-million-dollar institutional placement and share purchase plan.
HSF advised NEXTDC on its $297m fully underwritten institutional placement and non-underwritten share purchase plan, announced to the ASX last month.
The placement experienced strong demand, leading to the final placement value being increased by $16m. The placement price was $6.81 per share, a 5.6% premium to the $6.43 per share underwritten floor price.
The placement is expected to give NEXTDC enough capital to purchase three commercial properties for data centres in Sydney, Melbourne, and Perth.
Partner Philippa Stone led the HSF team, which also included special counsel Rob Finlay and solicitors Michael Burrell, Elizabeth Cameron, and Curtis Vella. US securities matters were handled by Singapore partner Siddhartha Sivaramakrishnan and senior associate Jin Kong.
HSF previously advised NEXTDC on its $150m ANREO entitlement offer and placement in September 2016 and its $120m ANREO entitlement offer and placement in November 2015, Stone said.
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