Allens acts for ALE Property on first retail bond issue for 2010
26 March 2010
Allens Arthur Robinson (Allens) advised ALE Property Group (ALE Property), Australia's largest listed freehold owner of pubs, on its announced offer of unsecured notes, which intends to raise approximately A$100 million.
To be known as ALE Notes 2, the offer is an important component of ALE Property’s capital structure, forming part of ALE Property's broader capital management initiatives targeted at reducing overall gearing and lengthening the average term of its debt facilities.
Allens acted for ALE Property, with Partner Stuart McCulloch, and a team including Partner Matthew Allchurch and Senior Associate Eve Regnard, heading the team.
The firm has worked on a number of Ale Property's capital management initiatives over the past few years, said Mr McCulloch.
'There is a lot of current interest in developing the corporate bond market in Australia, and in particular extending such issues to the retail market to provide issuers with greater diversity of funding options.
'We are pleased to work alongside the team at ALE Property to advise on initiatives that play an important role in their capital structure,' added Mr McCulloch.
Ends
| Client | ALE Property Group |
| Deal value | A$100 million |
| Allens legal team | Stuart McCulloch (Partner – Sydney), Matthew Allchurch (Partner – Sydney), Eve Regnard (Senior Associate – Sydney), James Clifford (Lawyer – Sydney), Kirsty Moore (Lawyer – Sydney), Victoria Moore (Lawyer – Sydney) |
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.
