rivercity-motorway-readies-a725-million-public-offering

RiverCity Motorway readies A$725 million public offering

Arrangers consider an Asian roadshow to tap local demand for infrastructure projects.
RiverCity Motorway, the winning consortium behind BrisbaneÆs north-south bypass tunnel, will lodge the prospectus for its A$725 million $540 million equity fund raising on Friday with the institutional bookbuild set to start two weeks later.

The prospectus will outline the economics of BrisbaneÆs first privately-operated toll road and detail the structure of the IPO which is being arranged and underwritten by financial sponsors ABN AMRO Rothschild.

A source close to the deal says the IPO is likely to follow a similar structure to the ConnectEast transaction completed in 2004 to fund a 39-kilometre toll road in MelbourneÆs Southeast. The A$1.2 billion IPO for ConnectEast included a partly-paid security structure and an attractive...
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