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Multimillion-dollar funding package receives green light
Clayton Utz has advised three parties as part of a multimillion-dollar funding package.
Emma Musgrave
Firm: Clayton Utz (Euroz Securities Limited, Paradigm Capital Inc and Numis Securities Limited); Undisclosed (Heron Resources Ltd)
Value: $240 million
Area: Finance
Key players: The legal team advising the lead managers was led by Clayton Utz corporate partner Mark Paganin and senior associate Stephen Neale, with assistance from lawyer Benjamin Depiazzi.
Deal significance: “The institutional placement is to sophisticated and professional investors, undertaken via an institutional bookbuild. Euroz Securities Limited is the global co-ordinator and bookrunner to the institutional placement,” according to a statement from Clayton Utz.
“Heron’s funding package also comprises a loan, equity and stream funding package from subsidiaries of Orion Mine Finance Group for a total of $129 million, an equity subscription agreement with a subsidiary of Greenstone Resources LP and co-investment parties for $42 million, an equity subscription agreement with Castlelake LP for $33 million, and a share purchase plan to existing shareholders to raise up to $5 million.”
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.
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