The biggest news on the market yesterday was Origin’s $850 million deal with Karoon Gas Australia.
When it announced the deal, Origin also said it would undertake an $20 million equity raising — with a $1 billion rights issue.
It’s going ahead with it some time after it reveals its results in August.
And, according to the Australian Financial Review, Origin hasn’t appointed an investment bank for the raising.
Now there’s a race on to see who can secure the surprise business.
According to the AFR, the winners could be similar to the line-up used in Origin’s last equity raising.
That $2.3 billion renounceable deal was handled by JPMorgan, Macquarie Capital and Bank of America Merrill Lynch.
There’s more here.
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