Next Generation Partners: Capital Markets: Debt

Next Generation Partners: Capital Markets: Securitisation

Rising Stars: Capital Markets: Securitisation

Capital markets in Australia

Allen & Overy LLP

The capital markets group at Allen & Overy LLP remains a key player in equity and debt capital markets work, and a leader in securitisations. Led by Mark Leemen, Tony Sparks and Meredith Campion, the equity capital markets team advises major global investment banks and non-bank financial institutions on IPOs, placements and block trades, entitlement offers, and hybrid offers. Headed by Mark Leemen, Karolina Popic (who leads the securitisation sub-team) and Minesh Patel, the debt capital markets practice assists with liability management issues, standalone bonds, covered bonds and debt programmes. The market-leading securitisation team, supported by loan portfolio specialist Jamie Taylor, advises on structured finance work, asset cases and derivative products. All lawyers mentioned are based in the Sydney office.

Other key lawyers:

Jamie Taylor

Testimonials

‘The team is very professional and efficient and available.’

‘Karolina Popic – she is a fantastic lawyer who takes a commercial approach to solving complex securitisation legal problems.’

‘I really liked the personal touch, with phone calls and face-to-face meetings.’

‘The partner at Allen & Overy took the appropriate time to discuss the matter at hand, but also had some interesting insights as to where the market was heading generally.’

‘Strong technical skills. commercial acumen and high-quality service.’

‘Mark Leeman – excellent Partner, very commercial in their advice, expertise, very hard working, manages client and other law firms very well.’

Key clients

M&G Investments

NBN Co

Scentre Group

Goldman Sachs

National Australia Bank

Commonwealth Bank of Australia

Macquarie Bank Limited

IOOF Holdings

Credit Clear

Pendal

M&G Investments

Flexicommercial

National Australia Bank

Citi

Pacific Alliance Group

Macquarie Bank

Work highlights

  • Advised NBN Co on the establishment of its $50bn GMTN programme and inaugural $2bn issuance under the programme. Also advised on the establishment of NBN Co’s $10bn AMTN programme and its first two issuances in November 2020.
  • Advised Scentre Group, the Australian operator of Westfield Living Centres, on its inaugural hybrid security issuance comprising $3bn (A$4.1bn) sold in the US under 144A and internationally.
  • Advised BNP Paribas, HSBC, Bank of China, Standard Chartered Bank and Wells Fargo as joint lead managers on the €500m five-year sustainability-linked eurobond issued by Australian engineering consultancy company Worley Parsons.

Allens

The capital markets group at Allens leverages the strength of its experienced teams to advise major national and international banks, non-bank financial institutions, and corporates across the practice area. Headed up by Robert Pick in Melbourne and Julian Donnan at the Sydney, with the assistance of associate Addison Ma, the equity capital markets team advises on IPOs, share purchase plans, bank hybrid offers, placements and block trades. In Melbourne, the debt capital markets team, under the direction of James Darcy and supported by structured debt specialist Paul Cerché, assists with secured debt programmes and funding vehicles aimed at financing major infrastructure projects. Led by Benjamin Downie, the securitisation team in Sydney provides bespoke solutions to issuers, originators and dealers.

Other key lawyers:

Paul Cerché; Addison Ma

Testimonials

‘The Allens Capital Markets team, led by James Darcy, is highly professional and experienced in their field. Their value proposition is their strong commercial approach when negotiating terms having a balanced view, from the issuer and dealer perspective. The efficiency of negotiating documents provides a seamless approach to executing a capital markets transaction. Well respected and well-liked by all who engage with them.’

‘Trusted advisers that go above and beyond for their clients.’

‘Very strong team across Partner down through associate. They deliver high-quality work on time. They are strong both from a technical standpoint, while also balancing the commercial aspect. They are experienced across a wide array of debt capital market products. They provide exceptional service and work well with other law firms, even those well below their standard.’

‘A highlight of this practice is their practicality – they get to understand our business and do not speak in theoretical legal terms – the advice is ready to apply.’

‘Their ability to identify key issues and explain them plainly so the bankers understand and can assess their implications. Further, given their involvement in many deals, they are able to point out what is reflective of market and what isn’t. This makes the negotiating process smoother and quicker.’

‘James Darcy – excellent industry and market knowledge, provides market leading legal solutions and structures, goes above and beyond for clients. Paul Cerché – commercial and pragmatic approach, adept problem solver, deep understanding of his clients and their business.’

‘Julian Donnan is a superb capital markets and corporate advisory lawyer. In addition to his formidable technical abilities, it is his commerciality, understanding of our business and industry, his responsiveness and relationship management skills that see him standout. Julian is always front of mind for capital markets transactions and for those nuanced continuous disclosure questions.’

‘Julian Donnan and Rob Pick are stand-outs. They are so in tune with market developments, available and approachable.’

Key clients

Vicinity Centres

Magellan Global Fund

Oil Search Limited

Reece

Goldman Sachs International and Morgan Stanley & Co International plc

Citi and Macquarie Bank

Sydney Airport

Cerberus Capital Management LP

Cerberus and Bluestone Mortgages

Xero PACCAR

Bluestone

Commonwealth Bank of Australia

Credit Suisse

Australian Gas Infrastructure Group

Bendigo and Adelaide Bank

WestConnex

TransGrid

nbn co limited

LendLease

Nickel Mines Limited

Coles Group

Work highlights

  • Advised bank financiers and bond arrangers to Australian Gas Infrastructure Group, one of the largest gas infrastructure businesses in Australia, on its new funding vehicle and secured $4bn debt programme.
  • Advising Cerberus and Angle finance on the acquisition of the Westpac’s vendor equipment finance business.
  • Advised long-standing client Vicinity Centres on its capital raising that is aiming to raise $1.4bn.

Arnold Bloch Leibler

The experienced capital markets team at Arnold Bloch Leibler assists private organisations, AXS-listed companies and shareholders involved in high-value transactions on a broad range of issues. Examples include IPOs, convertible note fundraisings, share placements, capital listings, public listings and AXS listing rules. The group is headed up by private capital raising expert Jonathan Wenig, who is supported by M&A specialist Jeremy Leibler. The team’s client portfolio includes Kogan.com and Freedom Foods Group. All lawyers mentioned are in the Melbourne office.

Practice head(s):

Jonathan Wenig

Other key lawyers:

Jeremy Leibler

Testimonials

‘The uniqueness of ABL is their personal connections with their clients and their ability to harness the entire firm’s skill base to assist when needed.’

‘The teams approach and depth of knowledge is unlike anything I’ve ever experienced at another firm.’

‘Great partners, deeply understand our business and provide strong advice.’

‘Jonathan Wenig: Extremely commercial, excellent knowledge of the business. Delivers concise, practical advice and will always make himself available.’

‘They strike for us the right balance of commercial and technical advice. We always want to know not only what is technically possible and where the boundaries are, but also what the commercial advice is re the choices ahead.’

‘Jeremy Leibler – deep commercial experience and excellent judgment, particularly relating to market perceptions and public response.’

‘A thoroughly professional team, instils the utmost confidence in their clients. Delivers practical and commercial advice and guidance through complicated processes. Flexible in their approach and work very collaboratively with in house teams.’

Key clients

Freedom Foods Group Limited

Kogan.com Limited

Zip Co Limited

Superhero

Thorney Technologies

Delta Drone International Limited

Palla Pharma Limited

Patrys Limited

Hexima Limited

Happy Valley Nutrition Limited

OneVentures

Work highlights

  • Advised Freedom Foods Group in relation to all aspects of Freedom’s recapitalisation, including a capital raising to raise up to A$265m to refinance existing debt and for working capital purposes.
  • Advised ASX-listed Australian ‘buy-now-pay-later’ provider, Zip Co, on a convertible note fundraising, raising A$200m from US-based growth investor, Heights Capital Management.
  • Advised ASX listed Kogan.com Limited in relation to a A$100m share placement fully underwritten by Canaccord Genuity and RBC Capital Markets.

Ashurst

The capital markets group at Ashurst remains a key market player, advising major national and multinational banks, non-bank lenders and international corporates on a diverse spectrum of matters in the debt, equity and securitisation areas. Headed up by Bruce Macdonald and supported by Andrew Kim, the equity capital markets team acts for clients on IPOs, block trades, acquisitions and mutual capital instruments. The debt capital markets and securitisation teams, which are overseen by global finance co-head Jamie Ng and field Jennifer Schlosser and Caroline Smart, assist dealers, arrangers and managers with high-value issuances, and advise originators and financiers on new investments. All lawyers mentioned are based in the Sydney office. Sarah Dulhunty departed in December 2021.

Practice head(s):

Jamie NgBruce Macdonald

Testimonials

‘The Ashurst Capital Markets – Debt practice team is highly experienced, professional and efficient. The breadth of knowledge of the team supports coverage across a range of structured credit solutions and innovations.’

‘Our key partner is Jennifer Schlosser who advises on a range of transactions both for issuers and funders as well as providing advice to other parties, including on the buy side. Jennifer is excellent with clients and provides insightful and well-informed views on a range of specific matters and end-to-end transactions whether in drafting or reviewing counsel capacity.’

Key clients

ANZ Securities

Bank Australia

Brighte Capital

Commonwealth Bank of Australia

Deutsche Bank

Energy Resources of Australia

Judo Bank

KKR

Macquarie Capital (Australia)

Morgans Financial

Morgan Stanley Australia Securities

National Australia Bank

Northern Star Resources

NorthWest Healthcare Properties Management

Ord Minnett

Woolworths Group

Work highlights

  • Advising Woolworths Group on the proposed A$12bn separation of its retail drinks and hospitality business to create an independent ASX-listed company, Endeavour Group.
  • Advised the consortium owners (KKR, Värde, Deutsche Bank) in respect of the IPO of Latitude and their part-exit from the ownership of Latitude.
  • Advised Export Finance Australia in relation to the establishment of a $2bn Euro-commercial paper programme.

Baker McKenzie

The capital markets group at Baker McKenzie advises major national and international managers and underwriters including JP Morgan and Morgan Stanley, utilising the strengths of its teams to assist with a broad range of matters. Led by Antony Rumboll and including senior associate Eric Li, the equity capital markets team helps clients with non-renounceable entitlement offers, IPOs and acquisitions. Duncan McGrath leads the debt capital markets team, which provides support on major fund issuances, commercial paper programmes and fixed-rate secured notes. All the lawyers mentioned are in Sydney.

Practice head(s):

Antony RumbollDuncan McGrath

Other key lawyers:

Eric Li

Key clients

Afterpay

Home Consortium

BWX Ltd

Cettire

China Merchants Bank

Clean Energy Transfer Fund

Citigroup Global Markets Australia

Empire Energy Group Ltd

Frasers Treasury Pte. Ltd. and Perpetual (Asia) Ltd atf Frasers Logistics & Commercial Trust

HomeCo Daily Needs REIT

Kazia Therapeutics

Megaport Ltd

National Australia Bank

Macquarie Capital (Australia) Limited

PointsBet Holdings Ltd

UBS AG

Regional Express Holdings Ltd (Rex)

Rio Tinto

Spirit Technology Solutions Ltd

White Rock Minerals Ltd

Work highlights

  • Assisted Afterpay with a successful A$1bn capital raising.
  • Advising various Rio Tinto entities in relation to the Australian elements of the establishment of its $4bn US commercial paper programme.
  • Advising Frasers Treasury Pte. Ltd. and Perpetual (Asia) Ltd atf Frasers Logistics & Commercial Trust on their A$1bn multicurrency debt issuance programme.

Clayton Utz

The capital markets group at Clayton Utz leverages the experience of its team to provide a comprehensive service to major domestic and international banks, non-bank lenders, multinational corporates and government agencies on a diverse range of matters across the practice area. Led in Sydney by Stuart Byrne and Brendan Groves (as well as Mark Paganin and Liz Humphry in Perth) and supported by senior associate Kwan Leung, the equity capital markets team assists clients with IPOs, hybrids, block trades and secondary raisings. Andrew Jinks and Sonia Goumenis in the Sydney office head up the debt capital markets team, handling high-value issuances and debt programmes, and the securitisation group, which provides clients with bespoke programmes and reverse mortgage securitization and is aided by senior associate Mark Chahine.

Other key lawyers:

Kwan Leung; Mark Chahine

Testimonials

‘First and foremost selecting Clayton Utz was driven by their skill sets, knowledge and their ability to get the tasks completed on time and to budget. Stuart Byrne and his team worked to get the best outcomes including a pragmatic approach.’

‘Specifically, the team led by Stuart Byrne and Kwan Leung were engaging and listened to the requirements whilst providing high-quality professional advice and guidance through the IPO process. They also facilitated the time differences of working with a European-based management team and legal teams in other jurisdictions.’

‘The CU team is deeply experienced and engaged with my business and transactions. As a firm, they’re able to draw on other areas to supplement their skills as needed.’

‘We’ve worked closely with Sonia Goumenis and Mark Chahine for over 3 yrs, supporting our debt markets capabilities. In every instance, we’ve seen outstanding client dedication as they’ve helped us with a very high workflow of complex issues.’

‘Totally professional, all round expertise, well priced, fully attentive to the client at all times and hugely responsive at any time during transactions. They are legal experts, very broadly experienced and commercial. They know their clients’ business and their advice is really particular to that business, which saves a lot of time and cost.’

‘Brendan Groves – an outstanding legal practitioner, really tuned in to clients needs and expectations and meets them without having to be asked. He has a deep understanding of our business and pre-empts issues and is proactive in finding commercial solutions. He is a delight to work with, available when needed, a great team player and it’s wonderful to see his promotion of women and if diversity in the workforce.’

‘Stuart Byrne, another outstanding lawyer, with great capital markets experience, knowledge of our business and gives highly valued very precise and commercial advice.’

Key clients

Keypath Education International Inc

Lumos Diagnostics Holdings Limited

Bank of America Merrill Lynch

Deutsche Bank

Equity Trustees Limited

FINEOS Corporation

Goldman Sachs

Healthia

InfoTrack Group

Limeade, Inc.

Macquarie Group

Marley Spoon

Morgan Stanley

Morgans

Partners Group

Tyro Payments

WiseTech Global

Oneview Healthcare

Macquarie Group

Heartland Finance

Lannock Capital

FlexiGroup Limited

Aura Capital

Australian Office of Financial Management (AOFM)

Sintex Consolidated Pty Limited

Work highlights

  • Acted for FINEOS, which is registered in Ireland, on raising approximately A$93m by way of an underwritten institutional placement of $85m and a non-underwritten share purchase plan of $8m to assist with the funding the acquisition of 100% of the issued securities of Limelight Health, Inc. for $75m.
  • Acted for Marley Spoon on a number of complex and high-profile capital market transactions during 2020, for a combined value of A$72.6m.
  • Advised the joint lead managers and underwriters in relation to the fully underwritten accelerated non-renounceable pro rata entitlement offer by Corporate Travel Management Ltd, including drafting and negotiating the underwriting agreement and liaising in relation to foreign jurisdiction advice.

Clifford Chance

Led by Richard Gordon, the capital markets group at Clifford Chance utilises the expertise of its team to advise major banks and non-bank financial institutions on a diverse spectrum of matters. The debt capital markets team assists issuers and underwriters with debt securities and debt issuance programmes including medium term notes and hybrid programmes. The equity capital markets practice helps clients with high-value refinancings and IPOs. In addition, the securitisation team acts on trade receivables securitisation programmes, and multi-currency trade securitisations. The group’s client roster includes HSBS and JP Morgan.

Practice head(s):

Richard Gordon

Testimonials

‘The Clifford Chance team always bring a high degree of technical skill, market knowledge and a collaborative approach to their transactions. Clifford Chance also benefits from the breadth and strength of its global network when acting on cross-border transactions.’

Key clients

BNP Paribas

HSBC

Citigroup

Deutsche Bank

JP Morgan

Société Générale

Bank of America Merrill Lynch

ANZ

NAB

Westpac

MUFG

UBS

Work highlights

  • Advised ANZ, CBA, NAB and Westpac as the Joint Lead Managers on Woolworths Group Limited’s issuance of A$400m fixed rate notes and A$600m fixed rate notes under its medium term note programme.
  • Advised Citi as arranger on the update of Woolworths Group Limited’s $2bn medium term note programme.
  • Advised BNP Paribas, CBA, Goldman Sachs, HSBC, JP Morgan and Westpac as the joint lead managers on Telstra Corporation Limited’s issuance of €500m fixed rate notes under its €15bn debt issuance programme.

Corrs Chambers Westgarth

The capital markets group at Corrs Chambers Westgarth crafts a personalised service to advise major national and international investors and financial institutions, corporates and other issuers and underwriters on a wide spectrum of matters. In the Sydney office, Sandy Mak, who leads the corporate group and the equity capital markets team, assists clients with solid pro-rata accelerated non-renounceable entitlement offers, block trades and sales. The equity team is supported by Christian Owen and Russell Philip in Perth. In Melbourne, Brad Robinson leads the debt capital markets team, helping clients with various financing packages, secured bonds and debt restructurings; he also heads up the securitisation team, which assists clients with suitable securitisation programmes.

Practice head(s):

Sandy Mak ; Brad Robinson

Testimonials

‘Straightforward to deal with, very timely turnaround, addressed commercial not just legal issues.’

‘Great team culture, really easy team to work with, always keen to assist, work collaboratively with the client and try to understand the key issues and provide good commercial advice.’

‘The availability of the team and also their calm and pleasant personalities. I deal with Christian Owen and Russell Philip.’

‘Russell Philip takes a calm and measured approach in stressful situations.’

‘The team are lovely to deal with and very commercial. They make themselves available at ANY time.’

‘The team was excellent. They delivered within a very tight time frame, always on top of the issues with prompt turnarounds. Very commercial in their approach.’

Key clients

Broad Peak Investment Advisers Pte. Ltd. and Tor Investment Management (Hong Kong) Ltd.

BaptistCare NSW & ACT

Coöperatieve Rabobank U.A.

Copper Mountain Mining Corporation

Paladin Energy Ltd

St George Community Housing (SGCH)

Tritium Holdings Pty Ltd

Paladin Energy Ltd

The British Council/The Chancellor Masters and Scholars of the University of Cambridge acting by the University of Cambridge Local Examinations Syndicate

Geopacific Resources Limited

Pushpay Holdings Limited

NRW Holdings Limited

Resource Capital Fund VII LP

Capricorn Metals Limited

Euroz Hartleys

BNY Mellon

Neuberger Berman Australia Pty Ltd

Volt Resources

Carnarvon Petroleum Ltd

New Gold Inc.

Aspire Mining Ltd

ESR

Perpetual Trustee Company Limited

Equity Trustees Limited

Bank of New York Mellon

IFM Investors

Macquarie Bank Limited

UniSuper Limited

Funds Managed by IFM Investors

Work highlights

  • Advised an adhoc group of bondholders located in Australia, Singapore, Hong Kong, Europe and the US regarding the voluntary administration of ASX listed Virgin Australia Holdings Ltd, the national and international airline.
  • Advised BaptistCare NSW & ACT on capital markets investment financing provided by the National Housing Finance and Investment Corporation through its affordable bond aggregator model.
  • Advised Coöperatieve Rabobank U.A. as the lenders and noteholders on all PNG aspects of the international debt restructure of the ED&F Man Group’s $1.5bn.

DLA Piper

The equity capital markets group at DLA Piper leverages its experience to provide solutions to issuers, underwriters and financial advisers across the capital markets arena. Headed up by David Ryan in the Sydney office, and including James Nicholls in Perth and Kelly Morrison in Brisbane, the group’s client portfolio spans the mining and resources, technology and life sciences sectors, and includes Webjet Limited and Zebit Inc. The team’s full service approach extends to IPOs, sales, share purchase plans and pro-rata non-renounceable entitlement offers.

Practice head(s):

David Ryan

Other key lawyers:

Kelly Morrison; James Nicholls

Testimonials

‘Ability to quickly respond to changing requirements and being on point when understanding the commercial outcomes that we’re looking to achieve. The team is made up of highly experienced, intelligent and down-to-earth practitioners who are fearless in their approach to deals. The people that are charged with overseeing deals are a big factor in why we prefer DLA over other firms. They choose the right team members who understand the way we operate and our no-nonsense approach to working through deals.’

‘Dave Ryan is an experienced capital markets practitioner who uses his experience to guide clients through the process, and where there are things that arise outside of the expected process, he isn’t fazed by it but applies a calm and level approach to resolve the issue.’

Key clients

Webjet Limited

Zebit, Inc.

Seequent Group

Nickel Mines

Nearmap Ltd

Life360

Kleos Space

Downer EDI

Althea Group Holdings Ltd

Starpharma Holdings Limited

SO4 Limited

Strike Energy Limited

Trajan Group Holdings Limited

14 Boundary Bend

Work highlights

  • Acted as issuer counsel to Zebit on its pre-IPO convertible note issuance, and subsequent initial public offering of CDIs over shares of common stock and application for admission to the official list of ASX.
  • Acted as issuer counsel to Trajan on its initial public offering and application for admission to the official list of ASX.
  • Advising Nickel Mines Limited on its A$364m, fully underwritten accelerated pro-rata non-renounceable entitlement offer and on its A$231m fully underwritten accelerated non-renounceable entitlement offer.

Gilbert + Tobin

The capital markets group at Gilbert + Tobin advises major international and domestic banks, non-bank financial institutions and multinational corporations across a broad spectrum of capital markets issues. Led by Louise McCoach, the debt capital markets team assists originators, issuers, arrangers and dealers with secured medium term notes, second lien senior notes, bank hybrids and Reg S issuances, while the ECM team, which is headed up by Peter Cook and includes Adam D’AndretiAlastair Corrigall and Perth-based Sarah Turner, acts for issuers, underwriters, and financial advisers on IPOs, real estate investment trusts and underwritten placements. All mentioned names are based in Sydney unless otherwise stated.

Practice head(s):

Peter Cook ; Louise McCoach

Testimonials

‘The team works seamlessly amongst themselves and with other teams in the firm. Always on top of detail. Very client-focused. Very solution-oriented. Very responsive. Proactive.’

‘Great team and always available.’

‘Sarah Turner – absolute gem, very thorough, works practically 24/7, explains all sides of the equation, collaborative and listens to what we need.’

Key clients

J.P. Morgan

Goldman Sachs

UBS

Macquarie Capital

Morgan Stanley

KKR

Acacia Partners

Amur Minerals Corporation

Certane CT Pty Ltd

Credit Suisse

Equity Trustees Limited

Global Loan Agency Services Australia Specialist Activities Pty Limited

Work highlights

  • Advised Amur Minerals Corporation in connection with its strategic investment in Nathan River Resources, an Australian iron ore producer.
  • Advised Goldman Sachs and UBS as joint lead managers and underwriters of Bank of Queensland’s ~ $1.325 billion capital raising to fund its acquisition of ME Bank.
  • Advised KKR on Pepper Money’s IPO and ASX listing – one of the largest IPOs of 2021 (market capitalisation $1.3 billion).

Herbert Smith Freehills

The capital markets group at Herbert Smith Freehills utilises the bench strength of its teams to advise underwriters, issuers and shareholders on a broad range of issues across the market. Headed up by Philippa Stone in Sydney and Michael Ziegelaar in Melbourne, the equity capital markets team, which also includes Tim McEwan (Melbourne) and Philip Hart (Sydney), assists clients with high-value raisings through share purchase plans, IPOs and non-renounceable entitlement offers. Patrick Lowden leads the debt capital markets and securitisation practices in Sydney, aiding clients with global issuances, major debt facilities, warehouse facilities and high-value loans; he is assisted in Melbourne by Josie Essery. The capital markets group is co-led by Andrew Booth, who is the regional finance head in Melbourne.

Other key lawyers:

Tim McEwen; Josie Essery; Philip Hart

Key clients

Macquarie Capital

Coronado Global Resources

Woodside Petroleum Ltd

Carbon Revolution

Orica

Goldman Sachs

Bell Potter Securities

Seven Group Holdings

UBS

Ramsay Health Care Limited

AMP Life Limited (part of the Resolution Life Group)

APA Group / APT Pipelines Limited

Credit Suisse

Virgin Australia Holdings Limited

Lendlease Corporation Limited

NEXTDC Limited

Citigroup

Brookfield Infrastructure

Royal Bank of Canada

Work highlights

  • Advised TPG Telecom Limited (TPG) and Tuas Limited on the listing on ASX of TPG’s Singapore mobile business, Tuas Limited (Tuas), and its demerger to TPG’s existing shareholders.
  • Advised the joint lead managers of Westpac Banking Corporation’s offer of new additional Tier 1 capital securities known as Westpac Capital Notes 7, which raised A$1.72bn.
  • Advised Cochlear on its capital raising during the heights of the Covid-19 pandemic.

Johnson Winter Slattery

The equity capital markets team at Johnson Winter Slattery advises national and multinational corporations across a broad range of industries, including the life sciences, energy and resources, and infrastructure sectors. Led by corporate M&A specialist James Rozsa in Sydney and ECM expert John Keeves in Adelaide, the group’s client base features Anheuser-Busch InBev and Seven West Media. The team’s full service offering extends to IPOs, subscription agreements, non-renounceable entitlement offers and private placements. The group is assisted in Sydney by multi-jurisdictional fundraising adviser Clare Brown.

Practice head(s):

James Rozsa; John Keeves

Other key lawyers:

Clare Brown

Key clients

AB InBev

Arafura Resources Limited

Bionomics Limited

Blackmores

BSA Limited

Cannacord Genuity Australia Limited

Evans & Partners

ImpediMed Limited

Imricor Medical Systems, Inc.

Laybuy Group Holdings Limited

Liquefied Natural Gas Limited

Moelis

Northern Minerals Limited

Osprey Medical Inc.

Perenti Global Limited (formerly Ausdrill Limited)

Shaw & Partners

Seven West Media Limited

Todd River Resources Limited

Visioneering Technologies, Inc.

Work highlights

  • Acted as Australian legal counsel to Laybuy on its initial public offering of shares and listing on the Australian Securities Exchange.
  • Advised Funtastic on a series of important transactions including the acquisition of the entire issued capital of the Hobby Warehouse Group pursuant to a share sale deed and, in return for that acquisition, the issuance of shares valued at $32.6m to the sellers, representing up to 34.43% of the issued capital of the company.
  • Advised Blackmores on a fully underwritten $92m institutional placement of approximately 1.3 million new fully paid ordinary shares at a price of $72.50 per share; and non-underwritten share purchase plan of up to $25m to eligible shareholders in Australia and New Zealand.

Jones Day

The experienced equity capital markets team at Jones Day utilises its skill sets to advise underwriters and issuers on a broad spectrum of issues including IPOs, Tier 1 capital raisings, rights issuances, stapled securities, hybrids and structured products. Headed up by Shannon Finch in the Sydney office and also fielding Isaac West in Brisbane, the group’s client roster includes SSR Mining and GetSwift Limited and spans the retail, health, pharmaceuticals, technology and energy and resources sectors.

Practice head(s):

Shannon Finch

Other key lawyers:

Isaac West

Key clients

Queensland Investment Corporation

Access Innovation Holdings Limited

SSR Mining Inc

Ansarada NewCo Pty Ltd.

GetSwift Limited

Ord Minnett Limited

ICM Group

Sheffield Resources Ltd

MAAS Group Holdings Limited

Orocobre Limited

Work highlights

  • Advised QIC Ltd in connection with its cornerstone investment in the A$1.3bn initial public offering on the ASX of Dalrymple Bay Infrastructure Limited.
  • Advised Pepper Global Topco Limited in connection with the demerger and initial public offering of its subsidiary, Pepper Money, on ASX.
  • Advised Ai-Media on its successful initial public offering and admission to the Official List of the Australia Securities Exchange, and the restructure of its Canadian entity to meet certain supplier diversity certification requirements of Canada’s LGBT+ Chamber of Commerce.

King & Wood Mallesons

The powerhouse group at King & Wood Mallesons coordinates its teams to remain a leader throughout the capital markets space. Led by industry authority David Friedlander in Sydney and supported by Henrik Moritz and special counsel Amanda Isouard, the equity capital markets team assists both issuers and underwriters with major IPOs, secondary raisings, capital management initiatives and hybrid security offerings. In Melbourne, Ian Paterson, who is supported by Philip Harvey, Jo Dodd, and special counsel Angela Chung, leads the debt capital markets team to advise major multilateral development banks, international banks, corporations and sovereign, supranational and agency issuers on high-value hybrid securities issuances. In Sydney, the securitisation and structured finance team, which is led by Paul Smith and includes Ian Edmonds-Wilson, advises investment banks, multinationals and other financial institutions on major securitisations, particularly in the residential mortgage market.

Key clients

Qantas

Sydney Airport

IOOF holdings

Flight Centre

Dalrymple Bay Infrastructure Limited and Adore Beauty Group

Ooh media!

IRESS

Super Retail

Harmoney and Payright

Project Kingston – Challenger Limited

National Australia Bank

AusNet Services Group

Members Equity Bank Limited

Australian Securitisation Forum

AfterPay

Columbus Capital

Westpac

Resimac

Work highlights

  • Advised Qantas Airways Limited on its institutional placement and share purchase plan, raising approximately $1.43bn, during Covid.
  • Advised Harmoney Corp Limited on its $92.5m initial public offering.
  • Advised Members Equity Bank Limited (ME) on its A$1bn issuance of residential mortgage backed securities (RMBS); this was ME’s inaugural transaction on its refreshed securitisation funding platform.

McCullough Robertson

The Queensland-based capital markets team at McCullough Robertson specialises in assisting corporate clients in the technology, life sciences, telecoms and start-up sectors, handling a broad range of equity finance issues including IPOs, underwritten share purchase plans, non-renounceable entitlement offers, rights issuances and acquisitions. Led by investment strategist Reece Walker, the group’s client portfolio features Chimeric Therapeutics and BCCL Worldwide. The team also fields capital raisings implementation specialist Aaron Dahl. All the lawyers mentioned are in the Brisbane office.

Practice head(s):

Reece Walker

Other key lawyers:

Aaron Dahl

Testimonials

‘Strong partner-led investment into the Brisbane business community. I know of no other firm that makes the commitment on a regular basis to train clients, share case studies and regulator and current market themes.’

‘Reece Walker is a genuine leader in the Brisbane business community. He is always freely giving of his time seeing the importance of relationships over fleeting transactional interactions.’

‘They provide a very pragmatic approach to transactions. They focus on getting the job done with minimal points scoring with opposing firms. I use them because I get international firm capability for a local firm price.’

‘Aaron Dahl – Has a massive work ethic. Never misses a deadline. I trust Aaron to protect my interests.’

Key clients

Chimeric Therapeutics Limited

BCCL Worldwide (The Times Group)

Imugene Limited

Prescient Therapeutics Limited

KGL Resources Limited

De Motu Cordis Pty Ltd

OtherLevels Holdings Limited

Bell Potter Securities

OneConfig

Symbio Laboratories Pty Ltd

Over the Wire Holdings Limited

Surepact Holdings Pty Ltd

SUDA Pharmaceuticals Limited

Wagners Holding Company

Technology One Limited

Lindsay Australia Transport

Work highlights

  • Assisted Chimeric Therapeutics on its IPO, which received overwhelming support from investors, raising $35m via the IPO and closing the offer early due to oversubscriptions to the tune of $90m.
  • Advised on BCCL Worldwide Inc’s investment of $2m into Melbourne-based TALi Digital for receipt of 9.8% equity in the company.
  • Advised Imugene on its $5.7m option underwriting agreement with BellPotter Securities Limited.

Mills Oakley

The experienced capital markets team at Mills Oakley Lawyers assists large, mid-market and small cap issuers on a broad range of matters. Recent work includes share purchase plans, non-renounceable entitlement offers, dividend reinvestment plans, equity-related products and IPOs. Iain Laughland in Sydney is a key contact.

Minter Ellison

The capital markets group at Minter Ellison utilises the expertise of its teams to advise underwriters, lead managers, issuers and existing shareholders on a wide array of capital markets matters. In the Sydney office, John Elias heads up the debt capital markets team, which helps clients with corporate bond issuance programmes, EMTN programmes and tender offer processes. Elias also leads the securitisation team, which assists clients with securitisation programmes involving the issuance of high-value notes, warehouse funding facilities and negotiations regarding intercreditor provisions. The equity markets team, helmed in Sydney by Daniel Scotti and in Melbourne by James Hutton, shepherds clients through mergers, block trades and high-value IPOs.

Other key lawyers:

Nicole Sloggett; Sudharshan Senathirajah; Bart Oude-Vrielink

Testimonials

‘Excellent technical knowledge coupled with pragmatic advice. Prepared to give an opinion.’

‘The Minter Ellison Capital Markets team is able to very quickly mobilise a team and get up to speed with complex transactions. I am always impressed by how quickly their team is able to provide highly constructive advice and a detailed step plan of how to attack difficult problems and navigate complex transactions. As corporate advisers, we are regularly seeking the counsel of Minter Ellison on various technical issues.’

‘Daniel Scotti and Nicole Sloggett – deep domain expertise, very thorough/detailed oriented, and very responsive/quick to respond where necessary. A good perspective on the trade off between legal and commercial outcomes.’

‘Bart Oude-Vrielink’s knowledge of the Corporations Act, ASIC and ASX requirements is second-to-none. This means that he is able to provide the same technical advice in 5 minutes that most other lawyers would require several hours of research to provide. He is never flustered by transaction complexity and is a safe pair of hands on difficult transactions.’

‘Sudharshan Senathirajah is a real asset on complex capital markets transactions. In addition to his great technical expertise and knowledge, his dedication to providing an excellent level of client service means that he makes himself available 24/7 which is very much appreciated. His knowledge of the regulatory bodies has been extremely helpful on several recent transactions.’

Key clients

Evolve Education Group Limited

Brisbane Airport Corporation Pty Limited

Albemarle Corporation

Dalrymple Bay Infrastructure Limited

Next Capital

Electro Optic Systems Holdings Limited

Moelis Advisory Pty Ltd and Morgans Corporate Limited

Education Australia Limited

FlexiGroup Limited

Mesoblast Limited

Select Harvests Limited

Helloworld Travel Limited

Hub24

Nissan Motor Company (Australia) Pty Ltd

MKM Capital Pty Ltd

Challenger Life Company Limited

Magnetar Financial (UK) LLP

Wingate Corporate Investments

Work highlights

  • Assisted Evolve Early Education Pty Ltd with establishing a corporate bond issuance programme, under which Evolve issued a $35m 7.5% senior secured Australian medium term note.
  • Acted for Brisbane Airport Corporation in relation to its EMTN Programme. Also acted in respect of the A$250m and A$600m issuance under the programme.
  • Acted as Australian counsel for Albemarle in respect of an exchange offer for its existing US bond issuance programme, and a subsequent tender offer process.

Norton Rose Fulbright

With teams throughout North America, Europe, Asia, Africa and the Middle East, the capital markets group at Norton Rose Fulbright leverages its global strength to advise major national and international banks, non-bank financial institutions and governments on a diverse range of matters. Headed up by James Morris in Sydney, the debt capital markets team assists clients with high-value debt issuances, lender warehouse facilities, and Euro medium term note programmes. In Melbourne, Jeremy Wickens leads the equity capital markets team, which advises clients on IPOs, rights issuances, convertible notes and seed raisings. Also in Sydney, Alex Mufford directs the securitisation team, which also fields Scott Millar in Melbourne and handles bespoke securitisation programmes.

Other key lawyers:

Scott Millar 

Testimonials

‘Norton Rose demonstrate strong skills in delivering capital market transaction solutions across a range of products. The team works collaboratively with their clients and are able to provide a range of technical/practice experts across different areas of the firm in order to lead the successful and timely delivery of a transaction. Their experience and knowledge is very current which is highlighted in legal advice provided to the client.’

‘The team really understands our business and our commercial drivers. They are proactive. Their communication is always clear and provide great collaboration. Other firms often raise issues without providing potential solutions. NRF is always solution driven.’

‘James Morris is wonderful to work with. He has a deep understanding of our business and the market in which we operate. He provides clear, concise advice and is proactive in finding solutions to legal issues as they arise.’

‘The Partner that I have had most dealings with at Norton Rose is Scott Millar in the Melbourne practice. I have had a long association with Scott that extends more than 10+ years. I have found Scott an extremely capable lawyer in the area of capital markets work, who I have mandated on many transactions. Scott has great skills in leading the legal work for a transaction and negotiating with all parties for the successful delivery of required transaction outcomes. He has good commercial awareness of client requirements and needs, and is always approachable and available.’

Key clients

Asian Development Bank

Bank of Nova Scotia

National Australia Bank

Deutsche Bank

Citibank

Bank of New York Mellon

ME Bank

Get Capital

Perpetual

Challenger

Work highlights

  • Engaged by Asian Development Bank to undertake a comprehensive review of Myanmar’s domestic capital markets laws and regulations and the regulatory and institutional framework that both enforces those laws/regulations and oversees and regulates domestic capital markets activities.
  • Advised the AOFM in relation to its investment in 15 small lender warehouse facilities as part of the Structured Finance Support Fund.
  • Advised Vodafone Hutchison Australia on its $16.6bn merger with TPG, a high-profile M&A deal in the Australian telecoms industry.