Login
Joint lead managers secure convertible notes by Flight Centre
Assisting UBS AG, Australia Branch and Merrill Lynch Equities, global law firm Ashurst has secured convertible notes from Flight Centre Travel Group Limited.
Naomi Neilson
Firm: Ashurst (UBS AG, Australia Branch and Merrill Lynch Equities)
Value: $400 million.
Area: Finance.
Key players: The team was led by Jini Lee with support from Sydney-based partners Jamie Ng, Caroline Smart, Greg Golding, Ross Zaurrini and Vivian Chang.
Deal significance: The issued notes are convertible into ordinary shares of FLT and have a final maturity date of November 2028. Certain shareholders entered into stock borrowing and lending arrangements with an affiliate of UBS Securities Australia Limited, up to an aggregate maximum amount of 20 million shares.
A delta placement of approximately 3.5 million shares has been executed concurrently with the convertible notes issuance.
Ms Lee commented: “We are pleased to assist the joint lead managers on this successful transaction and on a second convertible bond offering for Flight Centre.
“This is through the combined efforts of our Hong Kong and Sydney teams as we look forward to renewed confidence in the travel sector as we emerge from the pandemic.”
Naomi Neilson
Naomi Neilson is a senior journalist with a focus on court reporting for Lawyers Weekly.
You can email Naomi at:
