Centuria reveals plans to enter wholesale unrated market

3 April 2017

Publication: Kanga News
Date:
 3 April 2017 

Centuria reveals plans to enter wholesale unrated market

On April 3, unrated Centuria Capital Group (Centuria) revealed plans for a wholesale, senior-secured bond issue for up to A$50 million (US$38.2 million). According to an issuer statement lodged with the Australian Securities Exchange, proceeds from the notes will be issued by Centuria Capital No. 2 Fund, a wholly owned subsidiary of Centuria.

John McBain, Centuria’s Sydney-based chief executive, says the deal will diversify the company’s current debt funding sources and provide additional tenure to its existing debt maturity profile. He adds that it will also “deliver increased balance-sheet flexibility to support future growth, in particular supporting our REIT co-investment programme”.

Centuria’s forthcoming issue is open to eligible professional and sophisticated investors. National Australia Bank is arranging the deal.