King & Wood Mallesons (KWM) acted on behalf of Australia's largest ASX listed childcare provider, G8 Education Limited (G8), on an institutional placement which is being overseen by UBS and Ord Minnett.
The institutional placement, which raised approximately AUD$100m, filled the void left by China First Capital Group - which did not complete on its scheduled investment of AUD$149m at AUD 3.88 per share, as was agreed in February.
The placement strengthens G8's balance sheet through repayment of debt, including both a bond and working capital facility with Bankwest, and help fund committed child care centre acquisitions in Australia.
The KWM team was led by Brisbane Partner Stefan Luke, with the support of Senior Associate Isaac Evans and Solicitor Akshay Naran.
Stefan Luke said we are pleased to be continuing our work with G8 on their capital market transactions, following our role advising on the AU$212.8M placement in March.