Russell McVeagh Advises On Scentre Group's Inaugural US$3b Subordinated Hybrid Notes Issue
Russell McVeagh has acted as part of a multi-jurisdictional team to assist Scentre Group, owner and operator of Westfield in Australia and New Zealand, on its US$3.0 billion subordinated hybrid note issue in the United States market.
Working alongside international law firms, K&L Gates advising on the Australian law aspects, and Allen & Overy, advising on the New York and English law aspects, Russell McVeagh Banking and Finance partner John Powell led the firm's team advising on the issuance, which also included Special Counsel Tim Stewart, and associates Dan Zajac and Jessica Lewis.
This is Scentre Group's first issuance of hybrid notes – the issue diversifies the company's sources of capital and is expected to be a long-term feature of the Group's funding structure.
More information on the issuance is available here.