Australia’s leading independent law firm, Corrs Chambers Westgarth, has advised the Joint Lead Managers on Australian Unity’s recent capital raising – a placement and an entitlement offer of mutual capital instruments (MCIs).
Australian Unity is Australia’s first wellbeing company, operating an extensive portfolio of businesses in healthcare and aged care, as well as insurance policies, social infrastructure investment and research into the wellbeing of Australians. The capital raising comprised a A$160 million wholesale placement and a A$49.8 million pro rata non-renouncable entitlement offer of ASX-listed MCIs.
Led by banking and finance partner Jo Dodd, Corrs’ DCM team advised the Joint Lead Managers (Acacia Partners, E&P Capital, Morgans and NAB) on all aspects of the transaction.
Commenting on the matter, Jo Dodd said: “We are thrilled to have advised the Joint Lead Managers on this significant capital raising by Australian Unity. The capital raising forms part of Australian Unity’s ongoing capital management strategy, supporting its growth objectives and strengthening its capital position.
“The transaction enhances Corrs reputation as a trusted adviser on debt and equity capital markets transactions in the mutual entity sector.”