Login
NB Global Corporate Income Trust finalises multimillion-dollar raising
Corrs Chambers Westgarth has advised Neuberger Berman Australia Pty Ltd and Equity Trustees Limited on NB Global Corporate Income Trust’s raising of more than $476 million.
Emma Musgrave
Firms: Corrs Chambers Westgarth (Neuberger Berman Australia Pty Ltd and Equity Trustees Limited)
Area: Finance
Key players: The Corrs team was led by partner Fadi C. Khoury.
Deal significance: The NB Global Corporate Income Trust aims to provide Australian investors with the “opportunity to diversify their investments by investing in a portfolio of high-yield corporate bonds issued by companies located globally (including the likes of Netflix, Hertz and Accor Hotels)”.
According to a statement from Corrs, this raising involved a non-renounceable pro rata entitlement offer of new units in the ASX-listed NB Global Corporate Income Trust to existing unitholders, plus an additional shortfall offer to other retail and institutional investors in Australia and New Zealand.
The offer was strongly supported and closed over-subscribed on 27 June 2019.
Corrs lead partner on the matter Fadi C. Khoury said: “Neuberger Berman is an 80-year-old global manager with over $A455 billion under management.
“With the market capitalisation of the NB Global Corporate Income Trust to grow to approximately $A890 million on 12 July 2019, it will become the largest ASX-listed investment trust managed by a global investment manager.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
Email Emma on:
