Mallesons Stephen Jaques has advised Horizon Oil Limited on its US$80 million convertible bond issue which will help fund the company’s acquisition of an oil block offshore of southern China. Mallesons also advised Horizon on the early June acquisition.
The bonds are to be listed on the Singapore Stock Exchange and have been issued to a broad spectrum of institutional investors predominantly in Europe and the Asia Pacific.
The Mallesons team was led by Partner Craig Rogers, Senior Associates Leigh Cooper and Rhys Casey and senior Solicitor, Horace Wu, from the firm’s Brisbane office. Senior Associate Chris Taylor worked with Rogers on the acquisition side.
Commenting on the deal, Rogers said: “It was great to to work with Horizon again – this time to help meet its funding requirements to close out its recent acquisition, which represented a logical strategic transaction for the company.”
Casey added: “It was a terrific all round effort to get the issue away in such a short timeframe. There have been a limited number of Singapore listed convertible bond issues by Australian issuers in the past couple of years and it was great to achieve such a successful outcome for Horizon.”
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