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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