According to FIIG Securities, the Sunland Group senior unsecured notes will pay an indicative interest rate of 7.55 per cent.
“They will have a minimum initial investment of $50,000 at issue and will be distributed to new and existing FIIG Securities clients who qualify as sophisticated or professional investors,” the firm said.
FIIG Securities chief executive Mark Paton said Australian SMSF investors have an unmet demand for fixed-income investments offering good income streams.
“Sunland is a quality Australian company and the opportunity to lend to an established business at more than 7 per cent will no doubt be attractive to a wide range of investors, including SMSFs and the clients of financial planners,” said Mr Patron.
Sunland Group managing director Sahba Abedian said the note issue represents further strengthening and diversity across Sunland’s capital management initiatives, providing the company with access to debt capital markets.
“The note issue, together with Sunland’s existing banking arrangements, will assist in funding the Group’s current pipeline of land, residential housing and multi-storey developments and provide working capital for other opportunities Sunland may pursue in the future,” Mr Abedian said.
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