Capital Markets

To execute a successful capital markets transaction, participants need to pursue their commercial goals whilst working within the financial and legal parameters in this jurisdiction and globally. To successfully navigate these challenges, you need legal advisers skilled in interpreting existing and developing legal requirements combined with a strong awareness of commercial and market realities.

Our place in the market

In the 2018 calendar year Thomson Reuters and Bloomberg ranked us first in Australia/NZ by number of deals as legal advisor to the manager and second in Australia/NZ by number of deals as legal advisor to the issuer. Our relationships with investment banks operating in the Australian market are second to none.

Our approach

Our Capital Markets team advise listed companies and funds, financial advisers and their clients, underwriters and institutional investors across the range of Australian capital markets transactions. Providing commercial advice and outcomes, we ensure our clients are kept informed and feel in control throughout the process.

We are renowned for providing innovative advice on new and existing financial structures and financial products. We have acted for many listed corporations in their debt and equity capital markets transactions. We have excellent working relationships with the Australian Securities & Investments Commission, the Australian Securities Exchange and the Australian Prudential Regulatory Authority.

Our services

  • Conducting initial public offerings.
  • Establishing and structuring listed and unlisted managed funds.
  • Advising on subsequent offerings including rights issues (including accelerated entitlement offers), private placements, share purchase plans, DRP underwritings and on the establishment of share and interest sale facilities.
  • Advising on block trades.
  • Advising on the structuring of complex capital instruments, such as debenture and hybrid offerings.
  • Advising on capital management strategies, including buy-backs and capital reductions.
  • Debt capital markets and securitisation – on various programme establishments, drawdowns, credit-wrapped notes, US private placements and Islamic bonds.

Our team has also worked closely with investment bank advisers and corporate management to advise on a number of public-to-private transactions.

Our experience 

Our experience includes advising:

  • Viva Energy Group Limited on its successful IPO and listing on the Australian Securities Exchange - the largest IPO in Australia for four years and the largest non-government IPO in Australian corporate history.
  • Yancoal Australia Ltd on its dual primary listing on the Main Board of the Hong Kong Stock Exchange and associated capital raising (including Australian rights offering and Hong Kong IPO).
  • Goldman Sachs, UBS, Credit Suisse and Bell Potter as joint lead managers of Coronado Global Resources Inc.'s $774 million IPO and ASX listing.
  • Goldman Sachs as sale agent for the share sale facility established in connection with the delisting of Iron Mountain Incorporated from ASX.
  • Goldman Sachs as sale agent for the share sale facility established in connection with the A$16 billion demerger of Coles Group Limited from Wesfarmers.
  • Sonic Healthcare Limited on its fully-underwritten $600 million institutional placement and non-underwritten $100 million share purchase plan to fund its $750 million acquisition of US-based Aurora Diagnostics.
  • J.P. Morgan and Macquarie Capital on their underwriting of Reliance Worldwide Corporation’s $1.1 billion accelerated non-renounceable entitlement offer to fund its acquisition of John Guest.
  • Citi as lead manager of a $285 million institutional placement by Appen Limited.
  • UBS and Goldman Sachs (as Joint Lead Managers) on Bingo Industries' $425 million accelerated non-renounceable entitlement offer, in connection with its acquisition of Dial A Dump Industries.
  • UBS and Morgan Stanley on their underwriting of Primary Health Care’s $250 million accelerated non-renounceable entitlement offer.
  • Xero Limited in respect of its Convertible Note offering to raise $USD0300m and associated call option transactions.
  • IOOF in respect of its acquisition of ANZ’s wealth management business, and the associated capital raising.
  • Citi as lead manager and underwriter of a $297 million institutional placement by NEXTDC Limited.
  • Euroz and Morgans as the joint lead managers of a $331m rights issue plus two-tranche placement by Sundance Energy Australia.
Awards and Recognition
  • Gilbert + Tobin's Capital Markets team is ranked Band 1 by Chambers Global and Chambers Asia-Pacific 2019.
  • Gilbert + Tobin's Capital Markets team is ranked Tier 1 by Legal 500 2019.
  • Gilbert + Tobin's Capital Markets team won Equity Market Deal of the Year at the 2018 Australasian Law Awards.
  • Gilbert + Tobin was named Capital Markets Law Firm of the Year, Australia, by Finance Monthly Global 2017.

Flexible, commercial and fast in their advice.

IFLR, 2019