Allens advises GPT Group on $325 million capital raising

By Andrew Boxall, Kate Towey
Capital Markets Property & Development

Allens has advised the GPT Group on its $325 million capital raising and the redemption of its Exchangeable Securities from GIC.

GPT raised the funds to redeem the exchangeable securities, which had been issued to GIC in 2008, via an equity raising, comprising a $325 million fully underwritten institutional placement and a non-underwritten purchase plan.

The Allens team on the matter was led by Partners Andrew Boxall, Kate Towey and Stuart McCulloch.

Mr McCulloch said this latest deal was the continuation of a long relationship with GPT, and Allens were pleased to work alongside GPT once again on this important transaction for the Group.

Allens Co-Head of the Equity Capital Markets group Julian Donnan said: 'This year is looking like another busy year for ECM for both IPOs and the secondary market, particularly as M&A volumes pick up and issuers position themselves for further growth opportunities.

'Allens' other recent deals include acting for DUET on its $400 million entitlement offer, APA Group on its $1.7 billion entitlement offer to fund the QCLNG pipeline, and working with BAML as underwriter on Cromwell's €150 million convertible bond offer for a European property fund purchase.'

Allens legal team

Andrew Boxall (Partner – Sydney); Kate Towey (Partner – Sydney); Stuart McCulloch (Partner – Sydney); Yan-Lin Lee (Associate – Sydney) and Daniel MacPherson (Lawyer – Sydney)


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 40 offices in 28 countries around the world.