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.