Clayton Utz has advised ASX-listed lotteries, waging and gaming company Tatts Group Limited on its Offer of seven-year senior unsecured bonds (“Tatts Bonds”) to raise $200 million, with the ability to raise more or less, which opened today.
Clayton Utz capital markets partners Stuart Byrne and Brendan Groves led the Clayton Utz team, which included senior associate Richard Knott, lawyer Warrick Louey, partner Louise McCoachand senior associate Alex Chernishev.
Under the Offer, Tatts is offering seven-year senior unsecured bonds at $100 each, with the bonds expected to be listed on the Australian Securities Exchange from early July.
Commenting on the deal, partner Stuart Byrne said: “We are very pleased to have worked alongside Tatts management and its advisory team in bringing the Tatts Bonds to market. It is the first vanilla bond issue in Australia to utilise the single offer document option under the recently established vanilla bonds regime. With this Offer, Tatts has brought together a household name with the advantages of the vanilla bond structure. We expect that the market will be hoping that there are furthers offers to come in this space.”
- Allen & Overy Advises Fortescue Metals Group on USD2.3 Billion Bond Issue
- Allen & Overy Advises on Exim India’s Inaugural U.S. Dollar Green Bond
- Latham & Watkins Advises on Award-Winning Asia Deal
- Freshfields advises China City Construction on RMB2.5bn dim sum bond
- Simpson Thacher Represents Ta Chong Bank, Ltd. in Issuance of US$350 Million 1.0% Convertible Senior Bonds to an Affiliate of Carlyle