CBA covered bond issuance - A$1.85 billion

Firm: Allen & Overy
Lead Lawyers: Sonia Goumenis, Karolina Popic, Angela Clist
Client: Commonwealth Bank of Australia

•This was the first covered bond issuance under the CBA’s 30 billion global covered bond programme established in November 2011

•The issuance, for €$1.5 billion settled on January 12 and was priced at a fixed rate of 2.625 percent. The bonds are listed on the London stock exchange

•Allen & Overy advised on the establishment of global covered bond programmes conducted by all four major banks in 2011

Clough sale of offshore marine construction division to SapuraCrest - A$127 million

Firm: Baker & McKenzie
Lead Lawyer: Will Davis
Client: Clough Limited

Firm: Blake Dawson
Lead Lawyer: Roger Davies
Client: Clough Limited

Firm: Mallesons Stephen JaquesClient: SapuraCrest Petroleum Berhad (SapuraCrest)

• Clough has sold its offshore marine construction division to SapuraCrest Petroleum Berhad (SapuraCrest), a company listed on the Malaysian stock exchange

• Baker & McKenzie has advised Clough for a number of years, and worked on various transactions, including the sale of an 82 percent stake of Indonesian company PT Petrosea TBK to PT Indika Energy TBK in 2009

• Blake Dawson and Mallesons Stephen Jaques also both advised on the strategic alliance between AMP Capital and Japanese trust bank Mitsubishi U F J Trust and Banking Corporation

iiNet acquisition of TransACT  A$60 million

Firm: Clayton Utz
Lead Lawyers: Kate Jordan, Paul Gatward
Client: TransACT

Firm: Middletons
Lead Lawyers: Adam Levine, Simon Salter
Client: iiNet

• This acquisition will vastly increase iiNet’s presence in the ACT

• According to those involved there will be further M&A activity within this sector in 2012

• Middletons has been a long-term adviser to iiNet, including when it acquired AAPT’s A$60 million consumer division in August 2010, as the internet provider seeks growth through acquisition