29 October 2009
Mallesons Stephen Jaques has acted for the Joint Lead Managers on an A$700 million capital raising announced by ING Infrastructure Fund (IIF).
The fully underwritten capital raising comprises an accelerated non renounceable 1-for-1 entitlement offer to raise approximately $544 million and an institutional placement to raise approximately $156 million.
The Mallesons legal team advised J.P. Morgan, Goldman Sachs JBWere and Deutsche Bank and was led by Partners John Sullivan and Shannon Finch.
“This is an important deal for IIF as it represents the second stage of the Fund’s capital management strategy following its recent debt refinancing. We were really pleased to be involved in this significant transaction,” Mr Sullivan said.
Ms Finch added: “The capital raising is designed to repay debt and strengthen IIF's balance sheet. Importantly, IIF has signalled that this completion of its capital management initiatives will allow it to recommence distributions to unitholders in calendar year 2010, and gives the Fund flexibility to explore future portfolio initiatives”.
The other Mallesons team members were Hugh Treharne and Kristyll Dawson.
The Mallesons’ M&A practice has been kept busy with a number of recent capital raisings for Macquarie Media Group ($294m), CSR ($375m), API ($150m), Oil Search ($895m), Servcorp ($80m), Campbell Brothers ($196.6m) and Lynas Corporation ($450m).
More information:
Aleks Czerwinski, Communications Consultant - +612 9296 3703
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