Allens has advised DUET Group on its $397 million fully underwritten, non-renounceable pro rata entitlement offer.
The equity raising for DUET Group, an ASX-listed owner of energy utility assets in Australia, is expected to allow the group to provide medium-term funding for growth at operating companies United Energy and Multinet Gas, to strengthen the credit outlook of the Dampier to Bunbury Pipeline, and to suspend its Distribution and Dividend Reinvestment Plan for at least three years. The Allens team on the matter was led by Partner Marc Kemp.
Mr Kemp said it was satisfying to be involved in such a significant matter for a valued client.
'It has been a pleasure to work once again with DUET Group and its joint lead managers, Macquarie and UBS, on an important capital raising, assisting a long-standing and valued client to meet a tight timetable successfully,' he said.
Allens legal team
Marc Kemp – Partner; Richard Bell – Senior Associate; Matthew Symmons – Senior Associate; James Kanabar – Overseas Practitioner; Patrick Boyle – Lawyer.
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Notes for editors.
Allens is a commercial law firm working throughout Australia and Asia. Through its integrated alliance with Linklaters it provides clients access to 40 offices in 28 countries around the world.