Global firm leads in $80m placement

by |
Baker McKenzie is leading as legal advisor on FAR Limited’s fully underwritten placement to institutional and sophisticated investors to raise $80m.

Richard Lustig, the global firm’s lead partner on the deal, said that the significant capital raising has strong support from both new and existing investors. Lustig was assisted by Andrew Reilly, Matthew Collins, and Anna Kramer.

FAR, an independent, Africa-focussed oil and gas exploration and development company, will use the proceeds to fund continued participation in the drilling, evaluation and pre-development program in offshore Senegal. The company, which has high-value assets in West Africa, East Africa and Australia, will also use the proceeds to fund the expected acquisition and exploration of Blocks A2 and A5 in The Gambia and other corporate needs.

Credit Suisse is acting as FAR’s financial adviser. The placement is being underwritten by Credit Suisse and RBC Capital Markets as joint lead managers.

Related stories:
Big Six firm acts in $52.5m Mesoblast placement
Firms advise on $50m bonds offer