Waterford PBSA: Expression of Interest for Issue of Debenture (in the form of notes)

PERTH, Australia, February 22, 2024 /PRNewswire/ -- Waterford PBSA Pty Ltd ACN 612 264 963 (the Issuer) is the registered proprietor of more than 7000 sqm of land adjacent to a top tier university in Western Australia. The Issuer has entered into a development agreement with Exal Group Pty Ltd (the Developer) to develop and construct a 916 bed purpose built student accommodation with indoor and outdoor communal facilities on the land. The Developer has secured planning approval and will commence construction in March 2024.

With rental vacancies at historical lows and supply of new student accommodation limited, the purpose built student accommodation sector for Western Australia is experiencing a record high in occupancy levels and rental yield.

The Issuer proposes to issue up to AUD $82.5 million fully secured Debenture (Offer) for subscription by Investors for the sole purpose of funding the construction of the purpose built student accommodation. 

NOTE SERIES

The Offer is made to investors who are qualified as 'wholesale investors' as defined in the Corporations Act 2001 (Cth) only. Details of the debenture is as follows:

The Issuer is seeking expressions of interest from prospective Investors for participation in the proposed Debenture issue to be undertaken in March 2024.

Interested investors are invited to notify the Issuer of their interest in the Debentures, the scale of their prospective interest in the Debentures and any terms / conditions required in relation to that prospective investment.

An Investment Summary is available upon request.

PUBLIC OFFER / WITHHOLDING TAX

This notice constitutes an offer by the Issuer to issue debentures for the purposes of, and in accordance with, the "public offer test" for exemption from Australian withholding tax on interest paid under the debentures in section 128F(3) of the Income Tax Assessment Act 1936 of Australia (Tax Act)

Investors will be required to make customary representation and warranties about their status to assist the Issuer to demonstrate compliance with section 128F of the Tax Act including that the Investor is not an "associate" (as defined in section 128F(9) of the Tax Act) of the Issuer.

DISCLAIMER

Nothing in this invitation constitutes a representation by the Issuer or any of its Related Entities (as defined in the Corporations Act 2001) in relation to the issue. Investors must rely solely on their own investigations and not on any other information provided by the Issuer in making the decision to participate in the Debenture issue.

The invitation is not provided to any person located in a jurisdiction where its provision or dissemination would be unlawful. Any person who received this invitation in circumstances where receipt of it is unlawful or unauthorised or requires the Issuer to take any additional steps, including registration, must not accept this invitation.

CONFIDENTIALITY

The information contained in this invitation and any other information provided in relation to the Debenture issue must be kept confidential

CONTACTFor expressions of interest and further information please contact:Waterford PBSA Pty LtdAttention: Bay Yeoc/o Exal Group Pty Ltd – 205A, 39 Mends Street, South Perth WA 6151admin@exal.com.au