IT company raises $60m with Baker McKenzie’s aid

The firm acted on a similar deal for the same clients just last year

IT company raises $60m with Baker McKenzie’s aid

Baker McKenzie has played a key role in the $60m capital raise by IT service-management company Megaport.

The international behemoth acted as Australian and US legal counsel to RBC Capital Markets and Morgans Corporate, which acted as lead managers of a $50m fully underwritten institutional placement by the ASX-listed company and a $10m sell-down by Megaport chairman Bevan Slattery.

“We were delighted to act for our clients, RBC Capital Markets and Morgans Corporate Limited, as joint lead managers and underwriters on this strategic capital raise by Megaport, which will provide funds for expansion into new markets and locations as well as for innovation and the development of new technology,” said Craig Andrade, Baker McKenzie partner and head of equity capital markets.

Andrade jointly led the Sydney-based Baker McKenzie team with partner Antony Rumboll and associate Matthew De Cataldo. Partner Andrew Reilly and special counsel Paul Anderson handled the US law aspects of the deal.

Baker McKenzie acted on a similar deal for RBC Capital Markets and Morgans Corporate just last year, when both acted as joint lead managers of a $50m fully underwritten institutional placement by Megaport, as well as a secondary sell-down by Slattery.

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