King & Wood Mallesons Advises AACo on $299m Capital Raising

King & Wood Mallesons (KWM) has advised Australian Agricultural Company Limited (AACo) on its $299 million capital raising, announced on Thursday 12 September 2013.

The capital raising comprised a $219 million fully-underwritten accelerated non-renounceable pro-rata entitlement offer and the placement of subordinated convertible notes to raise a further $80 million.

The proceeds of the capital raising will be used to fund construction of the company’s Darwin Abattoir, reduce net debt and position the company to execute its vertical integration strategy.

Stefan Luke, from KWM’s M&A Team and also the lead partner on the deal, said: “It was terrific to be involved in this vital part of AACo’s long-term strategic plan. We worked closely with the company and had strong collaboration across our Brisbane and Sydney teams.”

KWM’s corporate and equity capital markets team was led by Stefan Luke (Brisbane, M&A) and David Friedlander (Sydney, M&A) together with senior associates Rhys Casey and Amanda Isouard and solicitor Steve Mylonas. Ken Astridge and Jung Ma assisted on the convertible note terms.

KWM is a long-standing advisor to AACo, having assisted with AACo’s initial ASX listing in 2001 and the company’s previous capital raising in 2011.

www.mallesons.com


Related Posts:

    None Found