Allens acts for DUET Group on equity raising

Allens has advised DUET Group on its $397 million fully underwritten, non-renounceable pro rata entitlement offer.

The equity raising for DUET Group, an ASX-listed owner of energy utility assets in Australia, is expected to allow the group to provide medium-term funding for growth at operating companies United Energy and Multinet Gas, to strengthen the credit outlook of the Dampier to Bunbury Pipeline, and to suspend its Distribution and Dividend Reinvestment Plan for at least three years. The Allens team on the matter was led by Partner Marc Kemp.

Mr Kemp said it was satisfying to be involved in such a significant matter for a valued client.

'It has been a pleasure to work once again with DUET Group and its joint lead managers, Macquarie and UBS, on an important capital raising, assisting a long-standing and valued client to meet a tight timetable successfully,' he said.

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