King and Wood Mallesons Acts on Crown’s $400 Million Hybrid Offering

King & Wood Mallesons (KWM) has acted on Crown Resorts Limited’s (Crown) $400 million hybrid offering.

KWM advised the structuring advisers UBS AG, Australia Branch and Deutsche Bank AG, Sydney Branch and the joint lead managers UBS, Deutsche Bank, ANZ Securities Limited, Commonwealth Bank of Australia, National Australia Bank Limited and Westpac Banking Corporation. The proceeds of the offer will be used for general corporate purposes including financing Crown Sydney, Crown Towers Perth and other anticipated growth projects.

The KWM team was led by M&A partner David Friedlander, who was supported by senior associate Amanda Isouard and solicitor Robert Garritano. B&F partner Ian Paterson advised in relation to the debt aspects of the transaction.

KWM partner, David Friedlander said, “We are pleased to work with Crown and the lead managers in the first corporate hybrid to come to market in a while. It is also the second time that we have worked with Crown and the lead managers on a hybrid issue, making the transaction extremely efficient.”

KWM also advised the lead managers on Crown’s $400 million hybrid offering in 2012.

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