Sources said Goldman Sachs, who advised Aussie Broadband on the bid, would lead the equity raising. Fund managers were yet to receive term sheets, and the final deal size and structure were still being finalised.
It comes after Aussie Broadband agreed to pay $3.01 per share for Symbio in a cash and scrip bid, after gazumping rival bidder Superloop. The scheme bid represented a 26.6 per cent premium to the target’s undisturbed price on July 31. It said it would fund the purchase via 17 million shares in scrip to Symbio shareholders – about 7 per cent of the company – and new debt facilities worth $435 million which would also refinance Aussie Broadband’s existing debt.has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.