Herbert Smith Freehills has advised Merrill Lynch Equities (Australia) Limited and Goldman Sachs Australia Pty Ltd as the Joint Lead Managers of CSL Limited's (CSL) A$6.3 billion placement to institutional investors. The transaction is the largest primary issuance by an Australian company ever and the largest equity capital markets deal of any kind in Australia since 2006.
The proceeds received by CSL under the placement, and an associated share purchase plan, will partially fund its proposed A$16.4 billion acquisition of Vifor Pharma. The transformative acquisition will further advance CSL's 2030 strategy to create value by adding a high growth, cash generative and sustainable business which complements and expands the global leadership positions of CSL Behring and Seqirus.
The Herbert Smith Freehills team was led by partner Philippa Stone (who is Joint Global Head of Herbert Smith Freehills' Capital Markets team), supported by senior associate Michael Burrell and solicitors Denitsa Vasileva and Adrian Palladino.
Philippa Stone said, "We are delighted to have acted for the joint lead managers on this successful capital raising. The offer and the associated acquisition strongly position the company for the future, and we are proud to have been involved."
CSL was advised by Allens Linklaters.
This transaction is a testament to Herbert Smith Freehills' market-leading reputation for equity capital markets deals.
