Baker McKenzie acts on A$60m accelerated renounceable entitlement offer by Centuria Property Funds Limited
Baker McKenzie advised UBS AG, Australia Branch and Moelis Australia Advisory Pty Ltd as joint lead managers and underwriters of the A$60 million accelerated renounceable entitlement offer by Centuria Property Funds Limited (in its capacity as Responsible Entity of the Centuria Metropolitan REIT).
Baker McKenzie lead partner on the transaction, Lauren Magraith stated: "We were delighted to act on what was a successful capital raising for our clients UBS and Moelis, and to have been involved in yet another raising by a Centuria fund, following our roles on previous equity offers by the Centura Capital Group."
In late 2014 Centuria Capital Group launched their first ASX-listed fund, the Centuria Metropolitan REIT (CMA) which invests in office and industrial assets in metropolitan markets across Australia. The Fund’s portfolio comprises thirteen office and two industrial assets which are geographically diversified across Sydney, Brisbane, Canberra and Adelaide. These assets have been valued at $601.9 million.
Lauren was assisted by a Baker McKenzie team comprising: partner, Antony Rumboll (who has recently joined Baker McKenzie from UBS) and lawyer, Daniel McGuiness.
Recently Baker McKenzie acted for J.P. Morgan as sole underwriter of the A$350 million block trade sell down by Bain Capital of its shares in MYOB Limited. Likewise, the firm also acted as Australian and U.S. legal counsel to Macquarie Capital (Australia) Limited and J.P. Morgan Australia Limited, as joint lead managers of a fully underwritten A$100 million institutional placement and subsequent share purchase plan by Steadfast Group Limited. The proceeds from the capital raising were used by Steadfast Group to fund its A$95 million acquisition of Whitbread Insurance Group and provide funds for future growth.