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Overview
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Experience
Introduction
Caroline advises financial institutions, corporations, government entities, and credit providers on an array of complex debt capital markets transactions.
Caroline Smart has deep experience in advising corporates and financial institutions on the full scope of debt capital markets transactions. Caroline has practiced in debt capital markets in Australia, the UK and Asia for the past 19 years. Her practice covers AMTN programs, EMTN programs, stand-alone issuance, USPP and private placements, convertible bonds and other hybrid securities, regulatory capital and liability management.
Caroline has extensive international experience, having worked with financial institutions, corporations, sovereigns, issuers and dealers/managers in both developed and emerging market jurisdictions across Australia, Europe, the Middle East and Asia.
Caroline is ranked as a "Leading Partner" in Legal 500, and has a Band 2 Ranking in Chambers Asia & Pacific 2026. She is "Highly Regarded" by IFLR in 2025 and achieved their "Woman leader" award in 2022. Caroline is also a guest lecturer in debt capital markets law for the University of Sydney’s and University of Melbourne’s Masters of Laws program.
Caroline is also a guest lecturer for the University of Sydney and the University of Melbourne LLM programs.
Caroline is qualified in Australia and England & Wales.
- Port of Brisbane | Advised on its USPP issuances and AMTN issuance of A$200m seven-year notes and A$300m 10.5-year notes, with joint lead managers.
- Qantas | Advised on an update of its existing A$2,000,000,000 short-term and medium-term note program and the issuance of A$425,000,000 of fixed-rate notes.
- Coca-Cola Amatil Limited | Advised on the issuance of A$133,000,000 of 2.45 per cent notes issued under the US$2,000,000,000 Program for the Issuance of Notes.
- Suncorp Group Limited | Advising Suncorp on establishment of a wholesale regulatory capital program for the issuance of AT1 capital notes and Tier 2 subordinated notes and the issue of $200 million perpetual capital notes and $200 million of floating rate subordinated notes due 2037
- A large oil and gas company | Advised on the establishment of its A$ Note Issuance Program for the issue of senior and subordinated notes and issue of A$400,00,000 5.439% Notes due 2034 and A$600,000,000 4.751% due 2029 by BP Capital Markets plc, guaranteed by BP plc.
- Barrenjoey | Advising Barrenjoey and the Joint Lead Managers on the establishment by data centre NextDC of an AMTN programme and issue of A$750 million subordinated notes due 2030
- Perth Airport | advised WBC, and SMBC Nikko as Dealers on the establishment of an AMTN programme and issuance of A$300,000,000 Fixed Rate Notes.
- QBE | advised a conglomerate of banks and Singapore Branchas joint lead managers on the issuance of U.S.$500,000,000 Fixed Rate Resetting Subordinated Notes due 2035 issued by QBE Insurance Group Limited under its Note Issuance Program.
- EnBW | advised EnBW, a major German electricity producer, on the establishment of an Australian dollar “Kangaroo” MTN program for green bond issuance and issue of A$350,000,000 5.302% Green Notes due 2029 and A$650,000,000 6.048% Green Notes due 2034.
- E.ON SE | advised E.ON SE, a major European electricity producer and distributor, on the establishment of an Australian dollar “Kangaroo” medium term note program for green bond issuance and issue of A$500,000,000 5.4% Green Bonds due 2035.
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