Login
Zip advised on $400m convertible notes offering
Global law firm DLA Piper has advised Zip Co Limited on its $400 million convertible notes offering.
Emma Musgrave
Firm: DLA Piper (Zip Co Limited).
Value: $400 million.
Area: Finance.
Key players: Zip were advised by a multi-jurisdictional and cross-practice team from DLA Piper, lead by Australian corporate partners Kelly Morrison and David Ryan and Singapore-based corporate partner Phillip Lee.
The trio were assisted by finance partners Onno Bakker and David Lyons, tax partner Eddie Ahn, special counsel Jennifer Whincup and Elliott Cheung, senior associate Kenny Mui, associates Andhari Sidharta and Mei Sum Chan and paralegal Katherine Keene.
Deal significance: Zip is described as a “leading player in the digital retail finance and payments industry, with operations across Australia, New Zealand, South Africa, the United Kingdom and the United States”.
“The unsecured senior convertible seven year notes, the proceeds of which are to be used to fund growth, were listed on the Official List of the Singapore Exchange Securities Trading Limited. Jarden and Bank of America acted as joint lead managers to the offering. An AUD$120 million delta placement was also undertaken to facilitate some of the hedging associated with the notes,” a statement from DLA Piper explained.
Commenting further, lead partner Mr Ryan said: “We are delighted to continue supporting Zip on achieving its vision of becoming a truly global BNPL player. This transaction is a great example of the partnership with growing businesses the DLA Piper global platform is designed for.”
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:
