Read The Times Australia

Daily Bulletin

Newbridge Townhouse Developments Pty Ltd Announces Offering of AUD 20,122,141 Senior Secured Loan Note Offer-PR Newswire APAC

  • Written by: PR Newswire Asia - Daily Bulletin Au RSS

MELBOURNE, Australia, Dec. 1, 2020 /PRNewswire/ -- This document is issued by Banner Capital Management Limited ACN 600 738 181 AFSL 465404 (Banner) under an arrangement made between Newbridge Townhouse Developments Pty Ltd ACN 610 453 604 (Issuer) and Banner. 

The Issuer announced today that it intends to offer debentures (in the form of loan notes) issued under the Facility for the purposes set out in the terms below.  

It is intended that the offer satisfy the terms of section 128F(3)(d) of the Income Tax Assessment Act 1936, so that the issue of the loan notes should satisfy the "public offer" test in section 128F for exemption from Australian interest withholding tax.

Financiers and those in the business of includes the buying and selling of Loan Notes or other debt interests and who are interested in subscribing for Loan Notes will be required to give customary representations, warranties and information about their status to assist the Borrower to demonstrate compliance with section 128F.

KEY FEATURES OF THE OFFER

Issuer/Borrower

Newbridge Townhouse Developments Pty Ltd as trustee of the Newbridge Townhouse developments Unit Trust  ACN 610 453 604

Financier/Underwriter and Arranger

Banner Capital Management Limited ACN 600 738 181

The Offer

An offer to subscribe for Loan Notes on the terms described in the transaction documents. The general terms of the transaction documents are set out in this Term Sheet.

Security and Ranking

First Mortgage over property at located at Wallan, Victoria, Australia (the Security Property)

Personal and corporate guarantees

General Security Agreements over the Issuer

Purpose

The proceeds from the issue of the Loan Notes will be used by the Borrower to refinance the Security Property and for the construction of 71 townhouses on the Security Property

Settlement Date

On or about 9 December 2020

Term

19 month term, involving a commitment to fund in accordance with a detailed drawdown schedule, subject to satisfaction of certain conditions precedent and other conditions.  A minimum interest return of 12 months applies.

Type of Instrument

Senior Loan Notes

Issue amount

AUD 20,122,141 exclusive of interest and fees.

Interest Rate

7.5% coupon per annum, 2.5% Facility Fee plus Exit Fees equating to circa 14.5% IRR

Transferability

The Notes are freely transferable without the consent of the Issuer

Governing Law

Victoria, Australia

The Issuer reserves the right in its absolute discretion to vary the terms set out above and accept or reject any offer. This offer will expire at 5pm Melbourne time on 15 January 2021

For further information please contact Brett Macgillivray at Banner Capital Management Limited – on phone number  +61 (03) 9929 6400Email: enquiries@bannerassetmanagement.com  

Restrictions in certain jurisdictions, including Australia

The distribution of this message and the offering and sale of the Loan Notes in certain jurisdictions may be restricted by law. This message does not constitute an offer, invitation or solicitation to participate in the Facility and be issued Notes in any jurisdiction where, or to any person or entity to whom, it would be unlawful to make such an offer, invitation or solicitation.

This message is not a prospectus or disclosure document and it has not been lodged with the Australian Securities & Investments Commission under Chapter 6D of the Corporations Act 2001 (Cth) (Corporations Act). The offer of Loan Notes is only available to domestic and foreign investors that are qualified as "professional investors" or "sophisticated investors" as defined under the Corporations Act (Wholesale Investors). By accepting the offer, an offeree represents that the offeree is a Wholesale Investor. No Notes will be issued or sold in circumstances that would require the giving of a disclosure document under Chapter 6D of the Corporations Act.

The Notes referred to in this message have not been nor will they be registered under the U.S. Securities Act of 1933, as amended (the Securities Act), or with any securities regulatory authority of any state or other jurisdiction of the United States and may not be offered, sold or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. There will be no public offering of the Notes referred to in this message in the United States.

About Banner

Banner Capital Management Limited is an Australian based alternate asset and funds manager specialising in secured property debt and has provided attractive risk-adjusted returns to its investors since 2012.

 

Authors: PR Newswire Asia - Daily Bulletin Au RSS

Read more https://www.prnasia.com/story/archive/3205691_AE05691_0

Business News

Office Cleaning Melbourne: Choosing the Right Scope for Your Office

A well-planned office cleaning Melbourne arrangement starts with a clear understanding of the premises and the people who use it. An office may include private work areas, shared desks, reception, mee...

Daily Bulletin - avatar Daily Bulletin

How Businesses Can Prepare for Unexpected Power Outages

Power failures can occur quickly. The supply may be interrupted by bad weather, issues with the electricity network, damaged equipment or local construction work. This can be just a hassle for a fam...

Daily Bulletin - avatar Daily Bulletin

How Chatswood Tutoring Can Fit Into a Student’s Weekly Routine

Create a Predictable Weekly Structure A consistent weekly routine can make study easier to manage when students are balancing several subjects. Chatswood tutoring can provide a fixed learning point a...

Daily Bulletin - avatar Daily Bulletin

The Rise of Digital Marketplaces in the Australian Trade Sector

For decades, the Australian trade and construction sector operated almost entirely on word-of-mouth recommendations and local community networks. Small business owners typically relied on local newspa...

Daily Bulletin - avatar Daily Bulletin

How Immigration Lawyers Can Help

Introduction Visa decisions can shape employment, family life, study plans, travel, and future residence. A small omission can lead to delay, added expense, or refusal. Immigration lawyers assess l...

Daily Bulletin - avatar Daily Bulletin

How Industrial Drying Equipment Supports Efficient Processing

Many industrial processes require moisture to be removed from compressed air, products or process materials before they move to the next stage. Excess moisture can affect equipment performance, produc...

Daily Bulletin - avatar Daily Bulletin

Practical Ways a Whiteboard Can Improve Workplace Communication

Effective communication helps teams stay organised, share ideas and keep track of important information. While digital tools are now common in many workplaces, a whiteboard continues to provide a simp...

Daily Bulletin - avatar Daily Bulletin

Designing Eco-Friendly Custom Water Bottles for Your Next Event

The Evolution of Sustainable Event Merchandise Event planning has undergone a massive transformation over the last decade. Gone are the days when organizers could hand out cheap, single use plastic...

Daily Bulletin - avatar Daily Bulletin

Why Choosing a Professional Florist Melbourne Makes Flower Delivery Impactful

Flowers have a great power to speak when humans cannot express their feelings with right words. Flowers are the best gifts when you are celebrating a birthday or welcoming a newborn child into your fa...

Daily Bulletin - avatar Daily Bulletin

The Daily Magazine

What Australian Entrepreneurs Should Know About Streamlining Their Financial Processes

Running a small business in Australia demands much more than just delivering a great product or serv...

Supporting Joint Health in Young and Growing Horses

Anyone who has raised a foal through to a rising three-year-old knows how deceptively fast the gro...

Why Is My Switchboard Buzzing? What a Humming Breaker Is Telling You

Most people never hear their switchboard. It sits quietly in a cupboard, a hallway or a meter box ou...

Solar Panels Geelong: Key Factors to Consider Before Installation

Solar power can help households and businesses generate electricity on site, but the value of a syst...

How Rats and Mice Get Into Homes Through Gaps Most People Miss

Rats and mice do not need an open door to get inside a home. They can squeeze through small openings...

Why a Safety Certified I/O Module Matters in Machine Design

Understanding Safety-Related I/O A safety certified I/O module is designed for use within an arch...

How to Compare Ceiling Fans online before Buying

Comparing ceiling fans online before making a purchase helps you understand how each model will su...

How Does a Portable Power Station for Carvan Adventures Support Smarter Camping?

Why Does Off-Grid Camping Need a Reliable Portable Power Station for Carvan Travel?  People often...

How Ecommerce Order Retail Fulfillment Services Improve Order Accuracy?

Why Order Accuracy Matters in Ecommerce Order Retail Fulfillment Services?  Order accuracy is one...