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Virgin Australia secures issuance on AUD and USD notes
Herbert Smith Freehills has advised Virgin Australia on its concurrent issuance with both Australian dollar- and US dollar-denominated unsecured notes.
Naomi Neilson
Source: glassdoor.co.in/Photos/Virgin-Australia-Airlines-Office-Photos-IMG292376.htm
Firm: Herbert Smith Freehills (Virgin Australia Holdings Limited)
Value: $325 million and US$425 million.
Area: Finance.
Key players: The team is led by partners Patrick Lowden and Philippa Stone and includes partner John Angus, executive counsel Vinh Huynh, senior associates Steven Catanzariti and Peter Ip, solicitors Michael Burrell, Jennie Bian, Shananne Joyce, Luca Credentino, Jennifer Catterson and graduate Katherine Duong.
Deal significance: The offers form part of Virgin Australia’s funding strategy in connection with its proposed acquisition of Affinity Equity Partners’ approximately 35 minority investment in the award-winning “Velocity” loyalty program. The surplus proceeds from the offers will be used for general corporate purposes.
Mr Lowden said: “It is a pleasure to work with the Virgin Australia team on this transaction. The offers mark an exciting development for Australian corporate debt capital markets, demonstrating investor support in a market traditionally dominated by investment-grade issuers.”
Naomi Neilson
Naomi Neilson is a senior journalist with a focus on court reporting for Lawyers Weekly.
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