King & Wood Mallesons has acted on Arrium Limited’s pro rata renounceable entitlement offer of new ordinary shares to existing shareholders, and a placement of ordinary shares to institutional investors, advising the lead manager UBS AG, Australia Branch.
The offer consists of an accelerated institutional rights issue and a retail rights issue including retail rights trading (‘PAITREO’), together with a placement to institutional investors, to raise approximately $750 million.
The King & Wood Mallesons team was led by M&A partner David Friedlander, who was supported by senior associate Amanda Isouard and solicitor Robert Garritano.
Commenting on the announcement, David Friedlander said: “We are delighted to have worked with UBS and Arrium on this major and innovative capital raising.”
This is the second time that King & Wood Mallesons has advised UBS and Arrium on a capital raising initiative. The firm also advised Arrium (formerly OneSteel Limited) on their $789 million capital raising in 2009.