King & Wood Mallesons (KWM) has advised one of Australia’s largest listed residential land developers, Peet Limited, on its offering of ‘simple corporate bonds’, with the group seeking to raise $50 million.
The offering represents Peet’s second venture in the simple corporate bond market, with the developer issuing its first round of bonds in June 2016. Peet’s current offering marks the first instance of an issuer taking advantage of the simple corporate bond legislation to make a follow-on offer of simple corporate bonds under a live base prospectus.
The KWM team was led by Partners Brian Murphy and Jo Dodd, with support from Senior Associate James Parkin and team members Nena Burchard and Tiffany Ha.
Commenting on the deal, Partner Brian Murphy said: “We are very pleased to have continued acting for Peet Limited on its simple corporate bonds offerings, with the firm also advising the group on its first issuing in 2016.”
KWM has acted on a series of simple corporate bond offerings since it advised on the launch of the nation’s first simple corporate bond for Australian Unity in November 2015.