Mallesons Stephen Jaques has acted on Origin Energy’s $2.3 bn entitlement offer, advising the underwriters JP. Morgan, Macquarie Capital Advisers and Merrill Lynch International (Australia).

Announced today, the offer will be conducted via a new equity raising structure, and a Pro Rata Accelerated Institutional and Tradeable Retail Entitlement Offer (PAITREO), which was developed by Merrill Lynch in consultation with Origin.

The Mallesons was led by Partners David Friedlander, Shannon Finch who were assisted by Senior Associate Catherine Sands and Solicitors Amanda Isouard and Victoria Ngomba.

Mr Friedlander said: “The new PAITREO structure, Origin’s participation in the New South Wales electricity privatisation process and its other growth opportunities made this a very dynamic transaction”.

The funds raised will help refinance Origin’s $3.26 bn acquisition of the Integral Energy and Country Energy retail businesses and the Eraring Energy GenTrader arrangements.