The second wave of COVID-19-inspired equity raisings landed with a bang on Thursday. Qantas Airways, which has taken a big hit from the pandemic, asked investors for $1.4 billion.

It was a tough day to launch the raising. US airlines had been smacked overnight, and Blind Freddy could see Australian shares would drop on Thursday. But after Street Talk revealed Qantas' board deliberations on Wednesday night, the company was quick to press go on Thursday morning. We look at how it went down with fund managers.

Elsewhere, Virgin administrator Deloitte doesn't seem to be too caught up in the bondholders' proposal. Instead, it is advancing talks with the two private equity bidders, and one of them seems to be getting special attention.

Finally, there's a sale in Downer Group's mining services business, sparking thoughts about a break-up strategy.

Happy reading,

Sarah Thompson, Anthony Macdonald and Tim Boyd

Street Talk Editors