Norton Rose Fulbright advises JP Morgan and Peel Hunt on £120 million placing by LondonMetric

Global law firm Norton Rose Fulbright advised JP Morgan and Peel Hunt as joint bookrunners on LondonMetric Property plc’s successful £120 million placing by way of accelerated bookbuilding. Due to exceptional levels of demand from existing and new institutional investors, the placing was upsized from £100 million to approximately £120 million following completion of the bookbuild. The deal closed on May 7, 2020.

LondonMetric is a FTSE-250 listed REIT focused on industrial, logistics and long income assets. The placing proceeds will be used to fund an extensive pipeline of quality investment opportunities arising from recent market events and strengthen the group’s exposure to long income assets.

The Norton Rose Fulbright team that advised on the LondonMetric fundraising was led by London-based corporate partners Mark Lloyd Williams and Fiona Millington, who were assisted by US securities partner Thomas Vita, corporate senior associate Alex Green and associate Hannah Culshaw.

The LondonMetric placing continues a trend of high-profile activity for Norton Rose Fulbright’s equity capital markets team.

The firm which recently advised Aedifica SA, the Euronext Brussels-listed investor in European healthcare real estate, as issuer on a €222 million equity capital raising which closed on April 23, 2020. BNP Paribas Fortis, ING and JP Morgan acted as joint global coordinators and a syndicate of banks acted as joint bookrunners. Thomas Vita led this team with support from counsel Kevin Connolly and associate Kayla Kirk.

A team, led by Fiona Millington and including Alex Green and Hannah Culshaw, recently acted for Investec as bookrunner on the accelerated bookbuild placing by Bloomsbury Publishing plc, which closed on April 17, 2020. They have also been involved in a number of other ongoing secondary ECM transactions.

Norton Rose Fulbright’s equity capital markets team delivers legal advice to a number of prominent corporations and financial institutions throughout Europe, the United States, Canada, Latin America, Asia, Australia, Africa and the Middle East. The firm handles all types of ECM transactions, from niche listings to global equity offerings for large multi-nationals across all key industry sectors.