Allens advises Billabong on capital raising
18 May 2009
Allens Arthur Robinson (Allens) has acted for Billabong International Limited (Billabong), the iconic Australian brand and clothing group, on a capital raising of up to A$290 million.
The 2-for-11 accelerated pro-rata, non-renounceable entitlement offer has been launched at an offer price of A$7.50 per share. The institutional component is fully underwritten to raise A$200 million and the retail component may raise up to an additional A$90 million subject to take up.
The Allens team, led by Partners Alex Ding and Vijay Cugati, consisted of Senior Associate Bob Speed and Lawyers Lisa Bau and Anastasia Maynes.
With Billabong's management team based in Queensland, Allens was able to help the client from both our Sydney and Brisbane offices to ensure the necessary quick turnaround of the transaction.
According to Mr Ding, Co-Head of the Equity Capital Markets Practice Group: 'Once again, the capital markets team has done a fantastic job at helping raise capital to strengthen the balance sheet of one of our valued clients.
'As proven here, it does not matter where our client is based, the team worked efficiently out of our various offices to service Billabong's management team who are based on the Gold Coast to ensure the transaction was launched in a timely manner and in a way which enables Billabong to benefit from our recent experience on many similar accelerated rights issue transactions'.
On working with Billabong, Mr Cugati added: 'Billabong has been working with other members of Allens, so it was great for the corporate team to help them on this transaction.'
| Allens legal team | Alex Ding (Partner – Sydney), Vijay Cugati (Partner – Sydney), Bob Speed (Senior Associate – Sydney), Lisa Bau (Lawyer – Sydney) and Anastasia Maynes (Lawyer – Brisbane) |
Ends
For further information, please contact:
- Jane FoleyCorporate Communications Coordinator,
Melbourne
Ph: +61 3 9613 8503
Jane.Foley@aar.com.au
Notes for editors.
Allens Arthur Robinson has staff in 14 cities and eight countries across the Asia Pacific.
