Herbert Smith Freehills advises Bingo on its capital raising and acquisitions of NRG and Patons Lane
Herbert Smith Freehills has advised Bingo Industries Limited on its strategic acquisitions of the National Recycling Group (NRG) and Patons Lane Recycling Centre and Landfill (Patons Lane).
To fund the acquisitions, Bingo launched a A$120 million underwritten pro-rata accelerated non-renounceable entitlement offer. The acquisition price for NRG was A$37.7 million plus A$13.4 million for two freehold properties and the acquisition price for Patons Lane was A$90 million structured over three payments between December 2017 and July 2019.