Allens advises Peet on capital management initiatives
3 June 2011
Allens Arthur Robinson (Allens) has advised Australian land estates, property fund management, land syndication and commercial land development company, Peet Limited, on a series of capital management initiatives to help fund its major strategic land acquisition, Flagstone, in South East Queensland's growth corridor.
The initiatives, announced on 1 June, include a $50 million issue of convertible notes ($40 million of which is underwritten) and a $20 million fully underwritten share purchase plan.
Partner Alex Ding, who led the Allens team on the matter, said that the convertible note investments were particularly suitable for Peet's business.
'They will help in diversifying Peet's funding sources,' Mr Ding said.
He said that Allens was pleased to have the opportunity to work alongside one of Australia's leading property groups and the professionals within that organisation.
| Allens legal team | Alex Ding (Partner – Sydney), Robert Speed (Senior Associate – Sydney), Judith Taylor (Senior Associate – Sydney), Alison Wong (Senior Associate – Sydney), Suzie Fraser (Lawyer – Sydney) and Adrian McGruther (Lawyer – Sydney) |
Ends
For further information, please contact:
- Susan CowenCorporate Affairs Adviser,
Melbourne
Ph: +61 3 9613 8374
Susan.Cowen@allens.com.au
Notes for editors.
Allens Arthur Robinson has staff in 14 cities and eight countries across the Asia Pacific.