Blakes, Mallesons and Freehills on $1.7 billion ANZ capital raising

Blake Dawson, Mallesons Stephen Jaques and Freehills have played key roles in another of this year's major capital raisings, this time by ANZ.ANZ's capital raising was by way of an issue of…

Lawyers Weekly • 18 November 2009 • Big Law

Blake Dawson, Mallesons Stephen Jaques and Freehills have played key roles in another of this year's major capital raisings, this time by ANZ.

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ANZ's capital raising was by way of an issue of convertible preference shares. The value of the raising was initially expected to be around $750 million, but on Tuesday it was announced the offer has been be increased to $1.7 billion.

Blakes and Mallesons were joint legal advisers for ANZ on the transaction - the Blakes team led by partners Elspeth Arnold and Corey Lewis and the Mallesons team led by Ian Paterson. Meanwhile, a team from Freehills advised the joint lead managers - ANZ Securities, Commonwealth Securities, Deutsche Bank, Goldman Sachs JBWere, Macquarie, Morgan Stanley, Westpac and UBS - led by partner Phillippa Stone.

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The offer forms part of ANZ's diversified capital management strategy, with the convertible preference share proceeds being used for ANZ's general corporate purposes.

This latest transaction brings the total amount raised by ANZ over the last six months to $6.4 billion, with the previous raising involving an institutional placement and share purchase plan.

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