Baker McKenzie succesfully acted for Macquarie Capital (Australia) Limited as sole lead manager and underwriter of a $100 million capital raising by RCR Tomlinson Limited.
RCR is a diversified engineering and infrastructure company providing intelligent engineering solutions to the infrastructure, energy and resources sectors. Under the terms of the raising, RCR Tomlinson made a 1 for 1.65 pro rata accelerated non-renounceable entitlement offer of new fully paid ordinary shares at an offer price of $1.00 per share. The proceeds of the offer will be used to strengthen RCR’s balance sheet and position the business for sustainable growth.
The institutional component of the Entitlement Offer closed on Wednesday, 29 August 2018 and was well supported by existing and new institutional investors.
Lead partner Lauren Magraith said: “Our team was delighted to work with our longstanding client Macquarie Capital on what was a very important transaction for RCR Tomlinson."
The Baker McKenzie team acting on the transaction was led by partners Lauren Magraith and Antony Rumboll, and included associate Daniel McGuiness and partners David Walter, Georgie Farrant and Bryan Paisley.
RCR Tomlinson was advised by King & Wood Mallesons.
Baker McKenzie's Corporate Markets team has recently acted on a number of successful capital markets and M&A transactions, including advising Afterpay Touch Group Limited on its $117 million institutional placement and acquisition of UK business ClearPay Finance Limited, advising Barminco Holdings Pty Limited on the sale of all of its equity and equity-like instruments to Ausdrill Limited, in a transaction worth $271.5 million, advised HT&E limited on the sale of its outdoor advertising business, Adshel, by competitive tender. The successful bidder was oOh! Media Ltd, with a bid of $570 million. We also advised Taylor Collison, Morgans Financial, National Australia Bank and Ord Minnett in their roles as joint lead managers for the flotation of the WAM Global listed investment company on the ASX, which successfully raised A$466 million.