Capital markets in Australia

Allen & Overy LLP

Allen & Overy LLP excels across the capital markets space, fielding distinct equity, debt and international capital markets teams. Tony Sparks leads the national equity team while Meredith Campion leads the equity practice in Perth, and US specialist Mark Leemen and Karolina Popic head up the international and debt capital markets teams. Popic also leads the securitisation team; her advice is considered ‘flawless’ in respect of a broad range of asset classes and the group also has an outstanding reputation for its expertise in covered bonds. On the debt and equity sides, the practice handles the full spectrum of matters and leverages the combined Australian, English and US law capabilities of the Australian team to assist with cross-border mandates. Clients also note senior associate Jamie Taylor for his securitisation knowledge.

Practice head(s):

Tony Sparks; Meredith Campion; Mark Leemen; Karolina Popic

Other key lawyers:

Jamie Taylor

Testimonials

Expertise in Australian equity capital markets, with a responsive team that is able to identify and focus on the key issues rather than being distracted with less important points.

Tony Sparks is experienced, responsive, demonstrates good commercial and legal judgement, a seasoned negotiator and good lawyer to work with.

Very strong securitisation team. Knowledgeable in all aspects of securitisation and have a commercial approach.

Karolina Popic continues to be an excellent securitisation lawyer over the 12+ years I have dealt directly with her. Her advice on securitisation matters is flawless and she is a trusted and expert lawyer in the securitisation space.

Key clients

Port of Melbourne

ING

Macquarie

HSBC

BNP Paribas

UBS

State Bank of India

Credit Agricole

Commonwealth Bank of Australia

National Australia Bank

RESIMAC Ltd

Australia and New Zealand Banking Group Limited

Bank of Queensland

Aspial Corporation Limited

RBC

Natixis

Standard Chartered

Property Exchange Australia Limited (PEXA)

Viva Energy

Pilbara Minerals Limited

Work highlights

  • Advised Macquarie Bank on the establishment of a new A$350m residential mortgage-backed security transaction, the first of its kind to be issued following the implementation of the new European Securitisation Regulations.
  • Acting for various banks as currency swap provider on Australian non-bank residential mortgage-backed securities and asset-backed security issuances.
  • Advised the Port of Melbourne on the partial refinancing of its acquisition facilities including the Australian law aspects of a US private placement offering of guaranteed senior secured notes and the English and Australian law elements of the establishment of a A$3bn secured guaranteed EMTN/AMTN programme and issue of A$550m secured guaranteed notes.
  • Assisted Viva Energy as issuer with its IPO and listing on the Australian Securities Exchange.
  • Advised Property Exchange Australia on its A$1.6bn dual track IPO and trade sale process.

Allens

The ‘insightful’ practice at Allens is notably active in ECM, DCM and securitisation work and utilises the firm’s alliance with Linklaters LLP to be a key name in the market for cross-border transactions. James Darcy heads up the debt practice, which is particularly active in the infrastructure and transport sectors and has notable strength advising first-time issuers alongside a growing regulatory capital practice. The securitisation team is led by Benjamin Downie and handles a broad range of asset classes; it has also recently been active advising new originator and fintech entrants into the market. Robert Pick and Julian Donnan jointly lead the equity team, which is a key name for underwriter clients at a domestic and international level. Stuart McCulloch is a securities expert and counsel Paul Cerché is recognised for his DCM work.

Practice head(s):

Robert Pick; Julian Donnan; James Darcy; Benjamin Downie

Other key lawyers:

Stuart McCulloch; Paul Cerché

Testimonials

Very easy to deal with. Great people skills. Confident and deliver outcomes.

I find Allens to be very prompt and personable. If the partner needs to bring in his/her colleagues on a matter, then they do so seamlessly and without effort.

Allens’ partners, particularly Benjamin Downie, are always willing to leverage and share their expertise. They provide insight and thoughts that may not have otherwise been considered and add value in the deals we work on together.

Key clients

Aurelia Metals Limited

AWE Limited

Bendigo and Adelaide Bank

CBA

Charter Hall

Credit Suisse

EBOS

Goldman Sachs

J.P Morgan

Macquarie Capital

Mirvac Group

Morgan Stanley

National Australia Bank

Redbubble Limited

Reece Limited

Rivalea

Westpac

Work highlights

  • Acting for the arrangers, including BNP Paribas, Credit Agricole and HSBC, on the establishment of an $3bn EMTN programme for Ausgrid and the related debut issuance into the programme.
  • Assisted BlueScope Steel with the establishment of its Singapore-listed $1.5bn EMTN programme with AMTN capability.
  • Acted for Bendigo and Adelaide Bank on its issuance of subordinated floating rate notes under a pre-established debt issuance programme.
  • Advised the Commonwealth Bank on its offer of CommBank PERLS XI Capital Notes, raising A$1.6bn.
  • Advised Reece on its A$600m equity raising to partially fund its acquisition of Morsco.

Arnold Bloch Leibler

Jonathan Wenig heads up the Melbourne-based ECM practice at Arnold Bloch Leibler, which assists Australian and international clients with the full range of equity work including IPOs and listings on the ASX. With a varied client base, the group also has notable expertise in the technology and online sector and acting for entrepreneurial clients; examples include Nufarm, Polustech and Square Peg Capital. Other noteworthy practitioners include Jeremy Leibler, who regularly works with listed companies; and Jeremy Lanzer.

Practice head(s):

Jonathan Wenig

Other key lawyers:

Jeremy Leibler; Jeremy Lanzer

Testimonials

ABL’s reputation precedes them in the market and with other firms. They have an in-depth understanding of capital markets and respond well to (a) keeping things simple and (b) managing complexity when it’s required.

Jeremy Leibler is one of the most brilliant legal minds and extremely commercial. Goes above and beyond the call of duty in every aspect.

Jeremy Lanzer has great attention to detail and is highly responsive.

Jonathan Wenig is a stand out. Understands our culture and our needs and delivers advice customised for us.

Key clients

Nufarm Limited

The Wilson family

Square Peg Capital

Redcape Hotel Group

Village Roadshow Limited

Trawalla Capital

PolusTech

Votiro

Zip Co Limited

Work highlights

  • Advised Nufarm on a A$303m equity raising to strengthen its balance sheet and provide capital for future projects and acquisitions.
  • Assisted the managing director and major shareholder of ASX-listed company Phileo Australia with a shareholder approved selective capital reduction and its subsequent delisting.
  • Acted for Redcape Hotel Group on its IPO.
  • Assisted Village Roadshow with a A$51m capital raising.
  • Advised Trawalla Capital on the establishment of Stonehorn Global Partners and the proposed launch of the Stonehorn Asia Equity Fund.

Ashurst

Ashurst’s ‘innovative and fast-moving’ department has substantial expertise across ECM, DCM and securitisation work at a domestic and international level and leverages the firm’s global network to act for a range of international clients including HSBC, Sumitomo Mitsui Banking Corporation, Goldman Sachs and Coca-Cola. The firm’s structured finance and securitisation practice is a key name in the market for originators and financiers; it also regularly establishes new programmes and funding platforms, has substantial derivatives expertise and is increasingly active in regulatory mandates. On the debt side, the group acts on mandates for both issuer and arranger clients including programme establishments, standalone and repeat issuances and liability management issues. The group’s equity expertise spans the full range of equity raisings including IPOs, secondary raisings and entitlement offers. Jamie Ng is a highly regarded name for debt work, while Bruce Macdonald and Sarah Dulhunty jointly lead the ECM practice, and Jennifer Schlosser is the key contact for securitisation work. Caroline Smart is also recommended for debt work and counsel Andrew Kim is an equity specialist.

Practice head(s):

Jamie Ng; Bruce Macdonald; Sarah Dulhunty

Testimonials

The team is innovative and fast moving.

They think outside the box and are solutions oriented.

Jamie Ng is one of the leading structured debt capital markets lawyer in Australia.

Key clients

National Australia Bank

Australia and New Zealand Banking Group

Commonwealth Bank of Australia

Westpac Banking Corporation

Royal Bank of Canada

Bank Australia

HSBC

Bank of America Merrill Lynch

Sumitomo Mitsui Banking Corporation

Bank of Tokyo Mitsubishi UFJ

Lloyds Bank plc

UOB

Rabobank

L-Bank

Macquarie Capital

Goldman Sachs

Credit Suisse

JP Morgan

Fortress

Santos

Coca-Cola

Element/Custom Fleet

EBOS

BMW

Crown Resorts

Downer EDI

NIB

StockCo

OnDeck

Fleetcare

Brighte

Victorian Mortgages Group

Newcastle Coal and Infrastructure Group

Work highlights

  • Acting for QBE Insurance Group on its investment in the World Bank’s issuance of notes via distributed ledger technology operated by CBA (Blockchain Bonds).
  • Advised Judo Capital on a A$350 securitisation facility with Credit Suisse.
  • Assisted Woolworths Group with the return of up to A$1.7bn to its shareholders by way of an off-market share buy-back following the sale of its petrol business.
  • Advised Deutsche Bank on the establishment of an A$ kangaroo bond programme for AT&T and the inaugural issuance of A$1.3bn notes
  • Acted for Viva Energy REIT on its institutional placement and security purchase plan to raise A$110m.

Baker McKenzie

Craig Andrade heads up the practice at Baker McKenzie, which primarily focuses on the equity space; Duncan McGrath is the key contact for DCM work and was also recently promoted to head of the firm’s banking group. On the equity side, the team is a notable choice in the market for underwriter clients including UBS, Macquarie Capital and Morgan Stanley; the group also has experience on the issuer side. The team also utilises the firm’s global network to assist with international mandates and fields individuals with US and international securities law capabilities; Andrew Reilly is the key US securities specialist. David Holland moved to Hogan Lovells and Lauren Magraith moved in-house at Gresham Partners.

Practice head(s):

Craig Andrade

Other key lawyers:

Duncan McGrath: Andrew Reilly

Testimonials

Baker McKenzie is best in class for providing Australian and US legal advice under one umbrella (vs. Australian only peers). It has significant transaction experience (particularly cross-border) and hence across all the issues and latest developments with a seamless delivery from a very experienced and well-coordinated core team.

Craig Andrade is very commercial, highly responsive, manages complex projects well (across jurisdictions) and a pleasure to deal with.

Andrew Reilly is an absolute pleasure to deal with and the best US lawyer in the market (for Australian issuers).

Key clients

UBS

Moelis Australia

Macquarie Capital

National Australia Bank

Morgan Stanley

Sundance Energy

Morgans Financial Limited

Westpac

Afterpay Touch Group

E Sun Commercial Bank Ltd

Work highlights

  • Advised NAB as sole arranger and the syndicate of joint lead managers on the flotation of the L1 Long Short Fund as a listed investment company on the ASX.
  • Acted for Taylor Collison, Morgans Financial, NAB and Ord Minnett as joint lead managers on the flotation of WAM Global on the ASX.
  • Assisted E. Sun Commercial Bank as issuer with the establishment of a new $5bn Euro commercial paper and certificate of deposit programme.
  • Acted on the issuance of A$750m floating rate subordinated notes by DBS Group Holdings under its global medium term note programme.
  • Advised the Government of the Republic of Fiji on the listing of FJD100m green bonds on the international securities market of the London Stock Exchange.

Clayton Utz

Clayton Utz assists clients with the full spectrum of capital markets work, assembling specialists in corporate finance, DCM, ECM, capital management and structured products. Andrew Jinks and Sonia Goumenis are the key names for DCM work; they are also singled out for their securitisation expertise. Recent debt highlights include advising Brisbane Airport on the update of its EMTN programme and assisting Optus Finance with its debt issuance programmes. On the securitisation side, the group acts for both sponsors and arrangers and has a notable bank client base; it has also been notably active in residential mortgage-backed security transactions and warehouse arrangements. ECM group head Stuart Byrne, national practice group leader Rory Moriarty and Melbourne-based Brendan Groves also stand out for their equity expertise, which is particularly noted for its technology sector floats and issues in the resources sector.

Practice head(s):

Stuart Byrne; Rory Moriarty

Testimonials

Andrew Jinks is an expert in securitisation. Very easy to work with and patient when explaining complex issues to clients.

Key clients

Australian Technology Innovators (InfoTrack)

Quadrant Energy

Marley Spoon AG

Healthia Limited

OFX Group

Murray River Organics Group

Woolworths Group

Charter Hall

Macquarie Capital

MYOB Group

Bravura Solutions

Morgans Corporate

Brookfield Capital

Oneview Healthcare

Orion Minerals

Fleetwood Corporation

Euroz Securities

Canaccord Genuity (Australia)

WiseTech

Virgin Australia

Invocare

Work highlights

  • Advised a consortium of sellers led by Brookfield, Macquarie and AWE on the proposed dual-track IPO of Quadrant Energy.
  • Acted for Woolworths and its petrol business on its dual-track IPO process.
  • Assisting Westpac with the A$3bn securitisation of residential mortgage-backed securities with class A notes listed on the Hong Kong Stock Exchanges and the Australian Securities Exchange.
  • Advising Brisbane Airport on the updating of its Singapore Exchange-listed EMTN programme and the inaugural issuance under the programme.
  • Assisted Optus Finance with its debt issuance programmes.

Corrs Chambers Westgarth

At Corrs Chambers Westgarth, the firm’s corporate department leads the equity work while the DCM expertise sits in the banking and finance practice; Sandy Mak leads the corporate group and Brad Robinson heads up the DCM team. The equity practice, which includes Jeremy Horwood and Robert Franklyn, is singled out for its experience in the mining and energy resources sector and has a growing reputation among listed investment vehicles; key clients include Volt Resources, RTG Mining and Neuberger Berman. On the debt side, the group is handling some innovative matters; it recently advised BNY Mellon on the first Australian only perils cat bond.

Practice head(s):

Sandy Mak; Brad Robinson

Other key lawyers:

Jeremy Horwood; Robert Franklyn

Testimonials

Brad Robinson is highly responsive and proactive, and understands our deals, pressure points and commercial imperatives intimately.

Key clients

Equity Trustees Limited

BNY Mellon

Perpetual Trustee

Carnarvon Petroleum Ltd

IFM Investors

UniSuper

SA Powernetworks

Euroz Securities Ltd

Hartleys Limited

Dacian Gold

RTG Mining

Volt Resources

Amani Gold Limited

Aspire Mining Ltd

Star Combo Australia Pty Ltd

New Gold Inc.

Neuberger Berman Australia Pty Ltd

Work highlights

  • Advised Neuberger Berman Australia and Equity Trustees on the IPO of NB Global Corporate Income Trust.
  • Acting for a range of clients in the mining and metals, and energy and natural resources sectors including Volt Resources, Aspire Mining and Amani Gold on equity raisings.
  • Acted for Hartleys as lead arranger and underwriter on a renounceable rights issue conducted by Blackham Resources to raise A$36m.
  • Advised BNY Mellon as the indenture (note) trustee and registrar and paying agent on an Australian only A$ denominated perils cat bond, the first of its kind.
  • Assisted Perpetual as outgoing and incoming notes trustee, security trustee and paying agent with the convertible notes issued by Armour Energy.

DLA Piper

DLA Piper excels in handling cross-border equity transactions thanks to its international network, most notably acting for US companies on listings and capital raisings in Australia; it recently advised Life360 on its A$820m IPO and ASX listing. The group is also noted for its expertise in the technology, mining and resources sectors; example clients include Webjet, Nickel Mines and Paringa Resources. David Ryan leads the ECM department, which also includes Perth-based partners Marc Wilshaw and Scott Gibson. The practice also benefitted from the recruitment of five corporate partners from Norton Rose Fulbright in 2019.

Practice head(s):

David Ryan

Other key lawyers:

Marc Wilshaw; Scott Gibson

Testimonials

DLA Piper’s depth of knowledge and expertise, particularly in the area of unique and cutting edge transactions, is outstanding. They also have the ability to provide clear and concise advice.

David Ryan has the ability to provide clear and concise advice.

The team has strong insights and connections to the ASX and ASIC which ensures the advice is up to date and appropriate for ASX listed companies. The team has continued to support us without the need to supplement the team.

The team is accessible day and night seven days a week and are always professional and responsive to our needs.

Key clients

Webjet Limited

Pengana Capital Group Limited

Nickel Mines Limited

Life360

Riversdale Resources Limited

Kleos Space Sarl

Splitit

IMF Bentham Limited

Buddy Platform Limited

Paringa Resources Limited

Bardoc Gold Limited

Tubi Pty Ltd

Work highlights

  • Advised Pengana Capital Group on the IPO of the Pengana Private Equity Trust to be listed on the ASX.
  • Assisted Webjet with its acquisition of UAE-based Destinations of the World and related accelerated non-renouncable entitlement offer, fully underwritten by UBS and Credit Suisse.
  • Acted for Kleos Space on its IPO and listing on the ASX.
  • Advised Nickel Mines on its A$200m IPO on the ASX.
  • Assisted Life360 with its A$820m IPO and ASX listing.

Gilbert + Tobin

At Gilbert + Tobin, Peter Cook heads up the ECM team while Louise McCoach leads the DCM practice. The group is particularly noted for its equity expertise, regularly assisting issuers, underwriters and investors on IPOs, complex capital management issues, entitlement offers and reinvestment plans. Other key equity practitioners include Rachael Bassil, Adam D’Andreti and Costas Condoleon, who is co-head of the firm’s corporate advisory group.  Alastair Corrigall and John Williamson-Noble are also seasoned ECM practitioners. On the debt side, the group acts for originators, issuers, arrangers and trustees on a range of debt and securitisation work including AMTN, Kangaroo and EMTN programme establishments, retail bonds, US private placements and social impact bonds.

Practice head(s):

Peter Cook; Louise McCoach

Testimonials

The intuitiveness of the team to understand the requirements of the business and actually apply it in a practical, measured and guided way. They take the time to understand the strategies and business operations. The level of knowledge and expertise is apparent in the way they navigate through difficult issues and come through without having to spend the time to research. This level of knowledge and expertise is far superior to other firms who practice in this area. While other firms have a good understanding of the issues at hand, it’s the way they navigate through it and how the guide the business.

The team is no nonsense, easy to approach and reach out to, and the experience shines through with the way they guide the business through issues. I value their transparency on matters. Specific mention to Adam D’Andreti.

Key clients

Yancoal

J.P. Morgan

Macquarie

Viva Energy

Goldman Sachs

Xerox Limited

UBS

IMF Bentham

Syrah Resources

Credit Suisse

Work highlights

  • Acted as Australian legal counsel to Yancoal on its dual primary listing on the Hong Kong Stock Exchange and the associated IPO, the first dual primary listing of a company on the ASX and HKEx.
  • Assisted IMF Bentham with the restructuring of its existing listed IMF Bentham Bonds and a A$1.4m conditional placement of new listed IMF Bentham Bonds.
  • Advised Acacia Partners as arranger on ASCF Managed Investments’ debt capital markets issuance.
  • Assisted Viva Energy Group with its IPO and listing on ASX.
  • Advised Goldman Sachs as sales agent on the demerger of Coles from Wesfarmers, which resulted in an independent ASX-listed retail company.

Herbert Smith Freehills

Herbert Smith Freehills is regularly involved in the market’s largest transactions across the debt, equity and securitisation spaces; it recently handled Coronado’s IPO and A$3.9bn listing on ASX, and assisted the joint sponsors and underwriters with Yancoal Australia’s dual primary listing, making it the first Australian company on both the Hong Kong and Australian Stock Exchanges. Philippa Stone and Michael Ziegelaar jointly lead the ECM practice, Andrew Booth is regional head of finance and Patrick Lowden heads up the DCM group. Other key practitioners include equity specialists Rebecca Maslen-Stannage and Tim McEwen, Philip Hart, who handles IPOs, secondary capital raisings and hybrid security offerings; and Laura Sheridan Mouton, who leads the firm’s US securities capabilities.

Practice head(s):

Philippa Stone; Michael Ziegelaar; Andrew Booth; Patrick Lowden

Testimonials

Strong partners with breadth of experience and excellent knowledge of equity capital markets in Australia.

Philippa Stone is one of the pre-eminent equity capital markets and corporate lawyers in Australia and is highly experienced. Phil Hart is a very high quality and experienced practitioner who is a delight to work with.

Michael Ziegelaar is an outstanding lawyer and is very well supported by his excellent team. The knowledge and experience of the team are very beneficial to a client.

Michael Ziegelaar and Alex Mackinnon work extremely well as a team. They are responsive, knowledgeable and approachable.

Key clients

Coronado Global Resources Inc

Coronado Group LLC

WorleyParsons Limited (WorleyParsons)

Woodside Petroleum Ltd

Westpac Institutional Bank

ANZ Securities Limited

Commonwealth Bank of Australia

J.P. Morgan Australia Limited

Morgans Financial Limited

National Australia Bank Limited

UBS AG, Australia Branch

Morgan Stanley Asia Limited

CMB International Capital Limited

BOCI Asia Limited

Reliance Worldwide Corporation

Macquarie Capital (Australia) Limited

Citigroup Global Markets Australia Pty Ltd

Evans and Partners Pty Limited

Shaw and Partners Limited

Seven Group Holdings

NEXTDC Limited

Aventus Retail Property Fund

APT PIPELINES LIMITED

Bingo Industries Limited

AVIS

NSW Ports

Virgin Australia Holdings Limited

Ports of Auckland Limited

Maia Financial

Lendlease Corporation Limited

Eclipx Group Limited

Work highlights

  • Advised Coronado Resources and Coronado Group on Coronado’s IPO and $2.7bn listing on the ASX.
  • Assisted WorleyParsons with its A$2.9bn underwritten pro rata accelerated non-renounceable entitlement offer of shares.
  • Acted for Aventus Retail Property Fund on its A$148m proposal to internalise its management functions through its acquisition of Aventus Property Group.
  • Advised Virgin Australia Holdings on the establishment of its Australian medium term note programme.
  • Acting for Avis on the restructuring of its Australian securitisation programme.

Johnson Winter & Slattery

Johnson Winter & Slattery’s ECM practice acts for a broad range of domestic and international clients with notable expertise in the energy and resources, infrastructure, life sciences, education, financial services and technology sectors; key examples include Bionomics, Northern Minerals and Ausdrill. James Rozsa heads up the group and specialises in cross-border work including cross-border listings on the ASX. Other noteworthy practitioners include Perth-based partners Paul Vinci, who is active in the mining services and resources sectors, and Justin Harris, who is qualified in Australia and the UK.

Practice head(s):

James Rozsa

Other key lawyers:

Paul Vinci; Justin Harris

Testimonials

Justin Harris and Paul Vinci work on a tag team basis.

Justin Harris and Paul Vinci both have excellent legal skills and give attention to detail. They are very responsive.

Key clients

AirXpanders, Inc

Ausdrill Limited

Bionomics Limited

BSA Limited

ImpediMed Limited

International Venture Management

Matrix Capital Partners

Northern Minerals

OpenView Advisors

Osprey Medical Inc

Senrigan Capital Group Ltd

Visioneering Technologies, Inc

Work highlights

  • Advised Ausdrill on an equity raising of A$250m, which was underwritten by Deutsche Bank, and USB.
  • Assisted Institutional Venture Management XVI and OpenView Advisors as lead investors with their Series B investment in Deputy Group, the developer of a cloud-based SaaS platform.
  • Advised Visioneering Technologies on a private placement.
  • Acted for AirXpanders on its rights offering to Australian and New Zealand investors.
  • Assisted Matrix Capital Partners with its investment in Afterpay Touch Group.

King & Wood Mallesons

With ‘a very strong, knowledgeable and supportive team’, which has ‘superior knowledge’ and is ‘able to deliver outstanding outcomes’, King & Wood Mallesons fields ‘true industry leaders’ including David Friedlander, Ian Paterson and Paul Smith, who lead the ECM, DCM and securitisation teams respectively. Other key equity specialists include Joseph Muraca, who has notable expertise acting for non-bank issuers; Diana Nicholson, who counts NAB as a key client; Jason Watts, who regularly acts for ASX 100 and shopping centre clients; Evie Bruce, who acts for investment banks and financial institutions; Henrik Moritz, who counts Macquarie Group as a key client; and special counsel Amanda Isouard. On the debt side, the group is at the forefront of the market; it handled the world’s first blockchain bond and is highly active in matters involving Kangaroo bonds, green and climate bonds, social and sustainability bonds and social impact bonds. Key debt names include Philip Harvey, Ken Astridge, Anne-Marie Neagle and John Eagleton. Clients also praise Ian Edmonds-Wilson as a highly regarded securitisation practitioner. Shannon Finch departed to Jones Day and Greg Golding moved to Ashurst.

Practice head(s):

David Friedlander; Ian Paterson; Paul Smith

Testimonials

Excellent technical expertise, unrivalled position in the market.

Very strong, knowledgeable and supportive team which guided our company through a complex capital raising.

The KWM team are technically excellent, easy to work with and very aware of, and responsive to, the commercial and market concerns that impact our business.

Depth in the team’s capability and always accessible. Ability to deal with anyone from senior partner down to relatively junior lawyer. The entire team work very well together as a single unit. Also, very strong knowledge of our business and the broader market, from experience acting for both borrowers and lenders.

Jason Watts is super responsive and very aware of the particular sensitivities of our business, the sector and the big picture.

Diana Nicholson is extremely responsive, commercial and technically strong.

Key clients

Bank of America Merrill Lynch

Credit Suisse

JP Morgan

Macquarie Group

Morgan Stanley

UBS

Australia and New Zealand Banking Group (ANZ)

Commonwealth Bank Group (CBA)

National Australia Bank (NAB)

Suncorp Group

Westpac Banking Corporation

AMP

Transurban Group

Healius (formerly Primary Health Care)

Trimantium GrowthOps

Victor Chang Institute

Heartland Bank

Walsh & Company

Work highlights

  • Advised Transurban Group on two of the largest equity capital raisings in Australia including a fully underwritten pro-rata accelerated renounceable entitlement offer to fund its share of the A$6.7bn West Gate Tunnel Project.
  • Acted for Macquarie Capital and UBS as joint lead managers on WorleyParsons’ A$2.9bn pro-rata accelerated non-renounceable entitlement offer.
  • Advised Suncorp Group on its debut wholesale capital market issuance of floating rate unsecured subordinated notes.
  • Assisted New South Wales Treasury Corporation with the establishment of its sustainability bond program and debut A$1.8bn green bonds issuance.
  • Acted for MoneyMe as sponsor and drafting counsel on a securitisation issue by the MME Velocity Warehouse Trust.

McCullough Robertson

Reece Walker leads the Brisbane-based equity practice at McCullough Robertson, which focuses on small-to-mid cap ECM work including primary listings, secondary raisings and equity incentive arrangements. It regularly works with investment banks, retail brokers and boutique financial advisers and has established expertise in the resources, industrial, life sciences, tourism, transport, technology and telecoms industries. The practice counts Ben Wood, who focuses on public and private capital raisings, M&A and restructuring work and Aaron Dahl, who handles employee incentive schemes, as key practitioners.

Practice head(s):

Reece Walker

Other key lawyers:

Ben Wood; Aaron Dahl

Key clients

King Island Scheelite Limited

Factor Therapeutics Limited

Over the Wire Holdings

Prescient Therapeutics Limited

Viralytics Limited

Sensera Limited

DGO Gold Limited

Bounty Mining

Zipline Cloud

Work highlights

  • Advised ASX-listed Viralytics on its $502m acquisition by Merck & Co by way of scheme arrangement.
  • Acted for Factor Therapeutics on an equity raising via entitlement offer.
  • Assisted Over the Wire Holdings with a capital raising and double acquisition of Access Digital Networks and Comlinx.
  • Advised Prescient Therapeutics on an equity raising of $9.1m.
  • Assisted King Island Scheelite with an underwritten pro rata renounceable rights issue.

Mills Oakley

Mills Oakley’s expansion of its ECM capabilities over recent years has led to a notable increase in instructions from mid-market and small-cap issuers, with particular emphasis on listings for mid-market companies, particularly those in the technology industry. Iain Laughland is the key contact for capital markets work and also handles cross-border mandates; Gavin Douglas’ recent experience includes handling change of control transactions, IPOs and assisting investors in public companies and Tony Lalor has advised companies and lead managers on IPOs and secondary capital raisings.

Practice head(s):

Iain Laughland; Gavin Douglas; Tony Lalor

Key clients

Appen Limited

Universal Coal plc

Volpara Health Technologies Limited

Oliver’s Real Food Limited

ELMO Software Limited

Adcorp Australia Limited

Bell Potter Securities Limited

Perpetual Equity Investment Company Limited

Martin Aircraft Company Limited

State One Equities Pty Ltd

Jobstore Group Ltd

Work highlights

  • Assisted Ribbit Capital with its tender offer to all existing shareholders of Stripe.
  • Advised Appen on all aspects of its fully underwritten institutional placement and share purchase plan offer to raise A$300m to partially fund its acquisition of Figure Eight Technologies.
  • Advised Universal Coal on its proposed scheme of arrangement, which will result in the acquisition of all quoted shares on ASX and JSE and the subsequent delisting of Universal from the ASX.
  • Assisted Perpetual Equity Investment Company with a A$100m capital raise.
  • Acted for Volpara Health Technologies on a proposed A$55m placement and accelerated non-renounceable entitlement offer to fund its acquisition of a US-based technology company.

Minter Ellison

At Minter Ellison, Daniel Scotti and James Hutton jointly lead the ECM practice from Sydney and Melbourne respectively, while John Elias heads up the DCM and securitisation expertise. The practice leverages the firm’s extensive national network and offices in New Zealand, Hong Kong and London to handle the full spectrum of domestic and international mandates. The group also has a notable focus on the financial services sector with Westpac, Macquarie Capital and Magellan Financial Group being key example clients. It has also grown its presence in the REIT arena and its work for mezzanine financiers. Melbourne-based Bart Oude-Vrielink is a key name to note for equity work.

Practice head(s):

Daniel Scotti; James Hutton; John Elias

Other key lawyers:

Bart Oude-Vrielink

Testimonials

The team is able to manage the competing time frames and commercial reality of what is required to get the necessary items in place in a timely and efficient manner, making sure that both the customer’s needs and legal process are appropriately managed.

The team has a great ability to effectively and efficiently manage the client needs and the discussion/negotiation with the other involved parties, whilst making sure that a high-quality product is documented effectively and efficiently within the agreed time frame.

Minters have a wide range of excellent practitioners covering all capital markets issues.

James Hutton is always able to provide valuable forward-looking solutions in various situations across different businesses and transactions.

The team’s commercial acumen, and ability to listen to and understand the client needs and expectations, whilst making sure that all the legal issues are appropriately managed is greatly appreciated and balanced.

The individuals have a good understanding of what they needed to do to get the document structure correct and meet the core needs of the client. They are also very good at working with the customer to help manage the flex that occurs during the negotiation process when working with the other involved parties.

John Steven and Bart Oude-Vrielink are an excellent duo – the Starsky & Hutch of Minters and capital markets work in Australia.

Key clients

Westpac Banking Corporation

Metrics Credit Partners Pty Ltd

Vitalharvest Freehold Trust

Evans Dixon Limited

Magellan Financial Group – Magellan Global Trust

Cromwell Property Group

Macquarie Capital

Shaw and Partners

oOh!media

Perpetual

Work highlights

  • Advised Wattle Hill Capital and ROC Partners on their proposed acquisition of Capilano Honey by way of scheme of arrangement.
  • Assisted Vitalharvest with the A$185m IPO of the Vitalharvest Freehold Trust on the ASX.
  • Acted for oOh!media on the capital raising for its A$570m acquisition of Adshel.
  • Assisted Brisbane Airport Corporation with its secured euro medium term note programme.
  • Advised MKM Capital on the documentation for a new securitisation trust.

Norton Rose Fulbright

Norton Rose Fulbright handles debt, equity and securitisation mandates with James Morris, Melbourne-based Jeremy Wickens and Alex Mufford leading each group respectively. The practice leverages the firm’s global network to advise on cross-border capital markets transactions; it is part of the team that assisted the Bank of New York Mellon on its Euro-denominated debt issuances. It has also been active in the social impact bond space and is increasingly handling securitised and structured capital markets mandates. ECM practitioner David Jewkes, who is based in the firm’s Perth office, recently rejoined the firm from King & Wood Mallesons.

Practice head(s):

James Morris; Alex Mufford; Jeremy Wickens

Other key lawyers:

David Jewkes

Testimonials

James Morris is a trusted adviser. Very talented and experienced in the DCM space and also covers regulatory capital matters. Highly approachable, committed and collaborative.

Key clients

National Australia Bank

ANZ

Deutsche Bank

Citibank

Bank of New York Mellon

ME Bank

Get Capital

Perpetual

Challenger

Work highlights

  • Advised Perth Airport on the closure of its A$950m syndicated bank debt refinancing.
  • Assisted Sacred Heart Mission with the State of Victoria’s first social impact investment.
  • Acted for Challenger and Perpetual on a new debtor finance securitisation programme for Octet Finance and the establishment of the first warehouse trust under the programme.
  • Assisted Vodafone Hutchison Australia with its merger of equals with TPG, and proposed ASX listing.
  • Advised Renergen on a $10m capital raising and secondary listing on the ASX.