Allens acts for GPT on $1.2 billion underwritten capital raising
7 May 2009
Allens Arthur Robinson (Allens) is advising The GPT Group (GPT), one of Australia’s largest diversified listed property groups, on a capital raising to raise a minimum of A$1.2 billion,
The transaction, completed in record time, is the most recent deal in a series of capital raising transactions that has kept the Allens equity capital markets team busy in recent months.
Announcing the capital raising on 7 May 2009, GPT required a very quick execution of the transaction, which comprises a non-renounceable 1 for 1 pro-rata entitlement offer to eligible securityholders and a $120 million institutional placement.
The institutional component of the entitlement offer of approximately $1.1 billion and placement are fully underwritten, with the entitlement offer including a non-underwritten retail component of approximately $470 million.
The Allens team, working closely alongside UBS, was led by Sydney Partner Anna Lenahan, with Partner Vijay Cugati, Senior Associate Marc Kemp and Lawyers Paul Mayson, Emma Leske and Chris Smith.
According to Ms Lenahan: 'This was an intensive deal which required a quick response and execution, so we are very pleased at how the team responded.
'We really appreciate the opportunity to work alongside the highly talented teams at GPT and UBS in this transaction.
'Our close working relationship meant we could draw on previous experience and knowledge of working together so that we could execute the entire process of this significant capital raising in a fast and effective way for GPT,' said Ms Lenahan.
| Allens legal team | Anna Lenahan (Partner – Sydney), Vijay Cugati (Partner – Sydney), Marc Kemp (Senior Associate – Sydney), Paul Mayson (Lawyer – Sydney), Emma Leske (Lawyer – Sydney) and Chris Smith (Lawyer – Sydney) |
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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.
