Allens advises Qantas on capital raising deal worth $500 million
12 February 2009
Allens Arthur Robinson (Allens) has advised Qantas Airways Limited (Qantas) on its recent capital raising. The transaction raised $500 million for Qantas via an institutional placement, and will be followed by a share purchase plan for Qantas retail shareholders.
The deal represents one of the largest capital raisings launched this year - the fifth largest in the market - and will help Qantas enhance its financial flexibility for the future, including supporting the Qantas fleet renewal program, increasing diversity of funding, reducing net debt and backing Qantas' investment grade credit rating.
Sydney-based Partner Tom Story led the team with the support of firm Chairman Ewen Crouch on the transaction, which required quick turn around.
'We understand the need to help clients to execute these transactions - not only quickly, but also with absolute accuracy and professionalism,' said Mr Story.
'In matters of this type, when there is a fair amount of pressure, relationships are one of the most important aspects and we enjoy working with the Qantas team.'
| Allens legal team | Tom Story (Partner), Ewen Crouch (Partner), Julian Donnan (Senior Associate), Robert Speed (Senior Associate) |
Ends
For further information, please contact:
- Jane FoleyCorporate Communications Coordinator,
Melbourne
Ph: +61 3 9613 8503
Jane.Foley@allens.com.au
Notes for editors.
Allens Arthur Robinson has staff in 14 cities and eight countries across the Asia Pacific.