27 May 2013

Clayton Utz advises Bank of America Merrill Lynch and RBS Morgans on $250 million Cromwell equity raising

Sydney, 27 May 2013: Clayton Utz has advised Bank of America Merrill Lynch and RBS Morgans as joint lead managers (JLMs) and underwriters on the $250 million equity raising by Cromwell Property Group, announced to the market on 23 May.

The raising is being conducted by way of a $128 million placement to institutional shareholders and a $122 million non-renounceable pro-rata entitlement offer.

Stuart Byrne, the head of the national Equity Capital Markets practice at Clayton Utz, together with Director - Equity Capital Markets, Natasha Davidson, advised the JLMs and underwriters on the raising.

Stuart said the raising reaffirmed that equity funding is available in the current environment for quality property stocks.

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.