Herbert Smith Freehills advises joint lead managers on The Star’s A$800 million entitlement offer and placement

Herbert Smith Freehills is proud to have advised Barrenjoey Markets Pty Limited and Macquarie Capital (Australia) Limited as joint lead managers and underwriters of The Star Entertainment Group Limited’s (The Star) A$800 million capital raising, comprising a A$685 million 3 for 5 accelerated non-renounceable entitlement offer and A$115 million placement.

The Star obtained A$80 million in pre-commitments from its joint venture partners in (amongst other projects) developing Brisbane’s Queen’s Wharf, Chow Tai Fook Enterprises Limited and Far East Consortium International Limited. The balance of the offer was underwritten.

The Herbert Smith Freehills team was led by partners Philippa Stone and Patrick Lowden, and supported by senior associate Jennie Bian, and solicitors David Tilley, Helen Zhang and Jason Lu.

Philippa Stone said, “We are delighted to have acted for the joint lead managers on this highly successful capital raising for The Star.”

The Star was advised by King & Wood Mallesons.