Allens brews successful capital raisings for ALE, Charter Hall
29 October 2012
Allens has reinforced its strong reputation within the Australian REIT sector via the successful completion of two significant equity capital raisings.
In the first matter, Allens advised long-standing client Charter Hall Retail REIT, on a $100 million institutional placement and security holder purchase plan (SPP) that will enable funding for the acquisition of three retail shopping centres.
The second transaction involved advising another of the firm's long-standing clients, ALE Property Group, on an $80 million placement of stapled securities and ALE Notes 2, and an SPP aimed at funding the simplification of ALE's hedging arrangements. Allens also advised ALE on its IPO and two previous capital raisings between 2009 and 2010.
According to Partner Stuart McCulloch, who led the Allens team on both matters, the firm has worked on a string of successful capital raisings, including the recent establishment of Shopping Centres Australasia (SCA) by supermarket giant Woolworths.
'Our team has developed significant expertise in the Australian REIT sector and equity capital markets generally,' Mr McCulloch said.
'It was pleasing to back-up our role on the Woolworths IPO of SCA by assisting ALE and Charter Hall with capital raisings.
'The latter was particularly newsworthy as it is the first time in recent years that a REIT has been able to raise money at a premium to net tangible assets.'
| Allens legal team | Stuart McCulloch (Partner – Sydney), Sandy Cameron (Senior Associate – Sydney), Amy Spira (Lawyer – Sydney), Kirsty Moore (Lawyer – Sydney), Scott Day (Lawyer – Sydney) |
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For further information, please contact:
- Susan CowenCorporate Affairs Adviser,
Melbourne
Ph: +61 3 9613 8374
Susan.Cowen@allens.com.au
Notes for editors.
Allens is a commercial law firm working throughout Australia and Asia. Through its integrated alliance with Linklaters it provides clients access to 36 offices in 27 countries around the world.