Lendlease pulls A$500 million domestic deal after pricing

On 9 November, Lendlease revealed it has decided not to proceed with a A$500 million (US$362.6 million) dual-tranche domestic deal priced on 2 November and due to settle on 9 November. In the announcement, joint lead managers ANZ, HSBC and Westpac Institutional Bank disclosed that Lendlease had taken the decision after making a public announcement regarding “further identified underperformance in the financial position of its engineering and services businesses”.