Herbert Smith Freehills is delighted to advise Computershare on its underwritten pro-rata accelerated renounceable entitlement offer with retail rights trading, in order to raise A$835 million to fund the acquisition of the assets of Wells Fargo Corporate Trustee Services (CTS).

Computershare is a global market leader in transfer agency and share registration, employee equity plans, proxy solicitation and stakeholder communications. Computershare is represented in all major financial markets and has over 12,000 employees worldwide.

The entitlement offer proceeds will be used to partially fund Computershare’s acquisition of CTS, a leading provider of trust and agency services to both corporate and government clients in the United States. With over 80 years of experience in the corporate trust sector, CTS is currently appointed to administer corporate trust services to ~26,000 mandates across a range of securities and bond issuances.

The Herbert Smith Freehills team is led by partner Michael Ziegelaar, who is supported by senior associates Sam Kings, Andrew Earle and Jennifer Wong, and solicitors James Paolucci and Amy Pereira.

Michael Ziegelaar, co-head of Australian Equity Capital Markets at Herbert Smith Freehills, said, “We are proud to be advising Computershare on the capital raising to fund this landmark transaction. The acquisition of CTS is a key milestone in the continued international expansion of Computershare and we are delighted to be associated with such an important transaction.”

Goldman Sachs and UBS AG, Australia Branch are acting as joint lead managers to the entitlement offer.