capital raising

TCL is in a trading halt until the morning of May 1.
This is to facilitate the 2B CR.
By the way things looks to me the existing shareholders will only have access to the terms of this CR.
85% of TCL is held by Australians and Austraila super instos.
The winning consortium are putting 400M equity.

"Transurban plans $2bn rights issue to help fund toll roads bid
JOHN DURIE THE AUSTRALIAN APRIL 24, 2014 8:42AM
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TRANSURBAN will unveil a $2 billion-plus equity raising this morning after last night heading the $7.1 billion winning consortium for Queensland Motorways.

The winning bidders will pay 27 times 2013 earnings for the collection of Brisbane toll roads.

Final details of the rights issue-led capital raising ware still be worked out but consortium members Abu Dhabi Investment Authority and Australian Super will contribute a combined $400 million to the equity issue.

Transurban has not raised equity since 2010 and this deal will be treated in part as a catch up for a range of other acquisitions and operational changes such as the City Link road widening in Melbourne.

Just $70 million separated the winning and losing bids on this $7.1 billion deal.

Last year when Port of Brisbane was sold to a Canadian pension fund for $1.4 billion just $14 million separated the winning bid.

“What we like most about the asset is the long term concession which runs till 2051 which compares to the Melbourne concession which expires in 2034.” Transurban chief Scott Charlton said this morning.