Westpac Office Trust
Corrs advised Westpac on an innovative, highly geared $365million property trust to own the Westpac's new $670million Sydney headquarters.
Westpac raised an initial $182.5million, to be traded as 50¢ instalment receipts. The balance of $182.5million equity is due in November 2011.
Subsequently, Corrs acted for the responsible entity of the trust in a major restructure involving the renegotiation of the terms of the installment receipt structure and commencement of trading in Units in the Trust on the ASX.