Firm: Herbert Smith Freehills (MA Financial Group Limited)

Deal: Herbert Smith Freehills has advised MA Financial Group Limited on its recent $120 million equity raising and acquisition of Finsure Holding and its subsidiaries.

Value: $120 million

Area: Equity, M&A

Key players: The HSF transaction team was led by chair and senior partner Rebecca Maslen-Stannage and solicitors Sam Moran and Danielle Farrell. The transaction team was supported by the firm’s banking regulatory team across its Sydney and Melbourne offices, including partner Charlotte Henry, senior associate David Curley and solicitor Chloe Kim.

The HSF team worked closely with the MA Financial legal team, including general counsel Rebecca Ong and legal counsel Mairead Murphy.

Deal significance: Finsure is a leading Australian mortgage aggregation group with a lending portfolio of $60.8 billion. The strategic acquisition will allow MA Financial to capitalise on the digital evolution of financial services in Australia and on synergies between its existing credit and lending businesses and the Finsure business to drive new product development and customer solutions.

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The equity raising comprised of an institutional placement raising approximately $100 million and a non-underwritten share purchase plan raising approximately $20 million.

Commenting on the deal, Ms Maslen-Stannage said: “We were delighted to work with MA Financial on this strategic acquisition and capital raising. The MA team consistently apply an innovative and commercial focus to executing complex transactions, and we look forward to seeing the ongoing growth and success of MA’s business.”