King & Wood Mallesons (KWM) have advised Peet Limited, one of Australia’s largest listed residential land developers, on its offering of simple corporate bonds. This is the second simple corporate bond offering under legislation passed in August 2014 aimed at cutting red tape for borrowers seeking to tap the retail bond market.

The transaction will enable Peet to access an alternative funds source for future strategic investments. The KWM team was led by Partners Brian Murphy and Phil Harvey and Senior Associates Jo Dodd and James Parkin.

Commenting on the deal, Partner Brian Murphy said: “We were very pleased to have been able to assist Peet access an alternative funding source in this new listed simple corporate bond market.”

In November 2015 KWM was instrumental in launching the nation’s first simple corporate bond for Australian Unity.