HWL Ebsworth advises Centuria Capital Group on $200 million listed note offer

19 May 2021

HWL Ebsworth advised Centuria Capital Group on its $200 million note offer and ASX debt listing.

Centuria is a specialist ASX-listed investment manager focused on property fund management and investment bonds, with $10 billion of assets under management.

Centuria successfully completed its offer of secured, redeemable notes raising a total of approximately $200 million in April 2021. The notes are listed on ASX.

Partners James Lonie and Cameron Jorss advised Centuria on the transaction, supported by senior associate Eloise Jolly and solicitor William Crammond.

James Lonie said, “It is a great privilege for us to assist our valued and long-standing client Centuria on another important milestone. The funds raised will support Centuria’s REIT co-investment programme, strategic acquisitions and accelerate the growth of Centuria’s unlisted property funds division.”

“The transaction had several novel features,” said James. “Most retail debt issues are by major banks or large corporates and are usually unsecured. Here, the notes were issued by Centuria Capital No. 2 Fund, a trust that holds strategic equity investments in funds managed by Centuria, and the notes are secured over a pool of assets held in the Centuria group worth over $600 million.”

The firm has acted on a number of significant corporate transactions for Centuria, including:

  • a fully underwritten placement to raise $130 million and unit purchase plan to raise approximately $10 million for Centuria Metropolitan REIT;
  • the all scrip takeover of New Zealand listed fund manager, Augusta Capital Limited for AUD124.5 million; and
  • the $417 million acquisition of the Telstra Data centre in Clayton, Victoria – in the largest individual industrial asset deal to be completed in Australia.

Note to Editors:

HWL Ebsworth is the largest legal partnership in Australia according to the most recent partnership surveys published by the Australian Financial Review.

The firm comprises 1,469 staff including 265 Partners, 871 other legal staff and 333 support staff across offices in nine locations – Adelaide, Brisbane, Canberra, Darwin, Melbourne, Hobart, Norwest (North West Sydney), Perth and Sydney.

HWL Ebsworth is an independent, nationally integrated, full service commercial law firm, providing tailored and commercially oriented legal services.

HWL Ebsworth operates a different business model to the other leading national law practices, and this allows us to offer unrivalled value for money without compromising quality and service. Our low ratio of solicitors to partners ensures that our clients receive optimal access to partner resources for all matters.

For further information, please contact:

Russell Mailler, National Marketing Manager (03) 8644 3569 or rmailler@hwle.com.au

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