King & Wood Mallesons (KWM) has advised Ampol on its $500 million subordinated debt issuance which has helped make 2020 the biggest year for domestic corporate hybrid and subordinated debt issuances since 2012.
The 60-year non-call 5.25 transaction was met with healthy demand, with a breadth of investors seeking the higher-yielding instrument.
The KWM team acting on the hybrid raising was led by DCM partners Jo Dodd and Phil Harvey and included partners David Eliakim and Kai-Chen Lamb, special counsel Amanda Isouard, senior associates Chloe Delahunt-Devlin and Sylvester Urban and solicitors Rhiannon Parker and Natasha Rodricks.
Commenting on the transaction, Jo said, "We are delighted to have worked with Ampol on this significant hybrid issuance which demonstrates the positive outlook for the market as 2020 draws to a close."
