IMF Bentham turns to Gilbert + Tobin for bonds advice

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Gilbert + Tobin (G+T) has helped global litigation funder IMF Bentham on the successful restructure of its existing listed bonds and a $41.4m conditional listed bonds placement.

The complex work has earned praise from Jeremy Sambrook, IMF Bentham general counsel.

“It has been a great project team to be part of, and I think there are exciting times ahead for our business and the industry. Acacia and G+T have played a strong hand in getting us through a complex debt transaction,” he said.

Acacia Partners was the debt capital markets adviser to IMF Bentham.

The conditional bond placement was conducted to fund redemptions associated with the restructure. Proceeds will also fund growth initiatives and make the company’s balance sheet more financially flexible.

The restructure and conditional placement complemented an earlier $74.5m equity capital raising by IMF Bentham.

On the bond restructure side of the deal, the G+T team was led by special counsel Louise McCoach, who was supported by graduate Johnathon Geagea.  The G+T team that handled the conditional placement was headed by partner Rachael Bassil, who was supported by lawyer Kathryn O'Brien.