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Allens, Freehills, work on Caltex notes offer deal
Allens has advised Caltex on the banking and corporate aspects of its offer for Caltex subordinated notes.
The New Lawyer
Caltex seeks to raise $300 million through the offer of the notes, with the ability to raise more or less, which are dated, direct, unsecured, subordinated, cumulative and intended for listing on the Australian Securities Exchange.
Caltex will offer the notes to institutional investors, broker firm applicants, eligible shareholders and members of the general public, at an issue price of $100 per note.
According to Partner Stuart McCulloch, who led the Allens team on the matter, the notes offer is expected to open on 9 August 2012.
The firm’s finance practice advised Caltex in relation to its medium term note programme in late 2011.
According to McCulloch, hybrid transactions continue to be popular in the market in 2012.
