The announcement follows bond issues recently arranged by FIIG for Cash Converters ($60 million) G8 Education Limited ($70 million), Mackay Sugar Limited ($50 million) and Silver Chef Limited ($30 million), bringing the total raised by FIIG in corporate bonds over the 2013 calendar year to $300 million.
Demand from private investors, including self-managed superannuation fund trustees, is driving the bond market for mid-cap corporates, according to FIIG chief executive Mark Paton.
“The bond market for mid-cap corporates is rapidly becoming an established part of the Australian capital markets with regular new capital raisings like the PMP Limited issue and also a diverse secondary market where investors can now choose from a range of mid-cap bonds,” Mr Paton said.
“The market continues to grow rapidly, with increasing numbers of both corporates and investors contacting us to participate in the wake of each successful issue.”
