Sydney, 8 November 2005 – LAWFUEL – The Law News Network – Blake Dawson Waldron (BDW) advised Challenger Listed Investments Limited as responsible entity of Challenger Infrastructure Fund (CIF) which recently announced a A$210 million entitlement offer. Under the entitlement offer, unitholders in CIF were able to subscribe for one new Class A security for every three existing securities held.
BDW previously advised on CIF’s IPO in July. CIF was specifically established to develop a diversified portfolio of global infrastructure assets. The recent entitlement offer was announced two weeks after the IPO completed.
The net proceeds of the entitlement offer are to be used primarily to repay debt facilities obtained to fund CIF’s participation in a consortium for the acquisition of Inexus Group (Holdings) Limited (Inexus). CIF is the leading investor in the consortium with an interest of 80.4%. Inexus is the largest independent gas transporter in the UK.
Corporate Partner, Matt Anderson, led the BDW team. The BDW team working with Matt included corporate partner Bruce Macdonald, senior associate Michael Vardanega and lawyers Kristie Brown, Corey McHattan and Marlia Saunders. BDW’s team worked closely with Challenger’s in-house legal and corporate team on the transaction.
Matt Anderson commented: “The deal raised several interesting legal and structural questions. It is always a privilege to work with Challenger, and we congratulate them on the success of the entitlement offer.”