Clifford Chance and King & Wood Mallesons (KWM) have picked up top roles advising National Australia Bank (NAB) on its $5.5bn capital raising for a possible demerger from Clydesdale Bank.
NAB has long been a client of KWM with the firm advising the bank on its first ever “green” bond issuance and convertible preference shares offer.
The potential demerger follows a shakeup within the Clydesdale UK legal team. Late last year Clydesdale UK general counsel Jennifer Darbyshire , a legacy Mallesons lawyer, returned to Australia to resume an in-house role at NAB after two years in which the bank launched its first national panel .
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