Allens acts for underwriters on Sims Metal Management's $400 million institutional placement
26 November 2009
Allens Arthur Robinson (Allens) advised the underwriters UBS and CommSec in relation to the fully underwritten institutional placement of A$400 million for Sims Metal Management, the global leader in metals and electronics recycling.
The transaction, announced on 20 November, also involved a Share Purchase Plan, with the target of raising A$75 million, which is non-underwritten and will be offered to eligible shareholders on or about 24 November 2009.
Allens Partner Vijay Cugati - with Senior Associate Eve Regnard - advised UBS and CommSec on the transaction.
'It was important that the transaction was executed quickly and smoothly for Sims Metal Management to then be able to focus on its plans to repay debt and pursue growth opportunities,' said Mr Cugati.
'This was another example of our ECM expertise being called upon to advise the underwriters in their important role in this successful transaction,' added Mr Cugati.
Ends
| Allens legal team | Vijay Cugati (Partner - Sydney), Eve Regnard (Senior Associate - 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.
