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Multimillion-dollar institutional placement complete
Ashurst has advised UBS and Macquarie as part of an $800 million institutional placement and non-underwritten $50 million securities purchase plan.
Emma Musgrave
Firm: Ashurst (UBS and Macquarie)
Value: $850 million total
Area: Corporate
Key players: The Ashurst team was led by partner Sarah Dulhunty, with support from associate Florence Tan.
Deal significance: “Together, the capital raised from the institutional placement and securities purchase plan will be used to fund GPT’s $531 million acquisition of a 25 per cent interest in the Darling Park development, and to fund the next stage of growth from within GPT’s development pipeline across the office and logistics sectors,” a statement from Ashurst said.
Commenting further, partner Sarah Dulhunty said: “We are delighted to have advised UBS and Macquarie on one of the largest placements in Australia this calendar year.
“It continues a spate of equity raisings by Australian REITs capitalising on renewed interest in REITs given improving real estate market conditions and declining interest rates.”
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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