13 May 2014

Clayton Utz advises Macquarie on Bendigo and Adelaide Bank $230 million capital raising

Sydney, 13 May 2014: Clayton Utz has advised Macquarie Capital as underwriter to the $230 million institutional placement by Bendigo and Adelaide Bank (BEN), completed on 6 May.

National head of the Clayton Utz Equity Capital Markets practice, Stuart Byrne, led the Clayton Utz team with Director, Equity Capital Markets, Natasha Davidson.

BEN intends to use the proceeds from the capital raising to fund the acquisition of the business and assets of Rural Finance Corporation of Victoria, valued at $1.78 billion.

Commenting on the transaction, Stuart Byrne said: "The placement is further evidence that equity funding is available in this market for positive value accretive transactions." 

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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.