You have4 free articles left this month.
Register for a free account to access unlimited free content.
You have 4 free articles left this month.
Register for a free account to access unlimited free content.
Powered by MOMENTUM MEDIA
lawyers weekly logo
Powered by MOMENTUM MEDIA

SMSFs targeted with $60m corporate bond offering

news
By sreporter
March 23 2015
1 minute read

Fixed income broker FIIG Securities has been appointed as lead arranger for the transaction of a $60 million unsecured corporate bond offering aimed at SMSFs, private investors and financial planners.

The bond offering is being undertaken by consumable product provider McPherson’s Limited and will comprise two tranches, including $30 million worth of four-year floating rate bonds with a 2019 maturity and $30 million worth of six-year flat rate bonds with a 2021 maturity.

McPherson’s managing director Paul Maguire said the bond offering will only be available to eligible professional and sophisticated investors.

 
 

“We are pleased with the terms of the offering given the various benefits derived for McPherson’s, including greater financial flexibility, extended tenure, diversification and a broadening of our capital base,” said Mr Maguire.

FIIG Securities chief executive Mark Paton said the company was pleased to assist McPherson’s to diversify and lengthen the duration of its debt funding.

“This is our first multi-tranche bond issue with different tenors and [it is] also offering investors the option to invest in fixed and/or floating rate bonds, in another positive development for the expanding Australian bond market for midsized corporates,” said Mr Paton.

You need to be a member to post comments. Become a member for free today!

Comments (0)

    avatar
    Attach images by dragging & dropping or by selecting them.
    The maximum file size for uploads is 10MB. Only gif,jpg,png files are allowed.
     
    The maximum number of 3 allowed files to upload has been reached. If you want to upload more files you have to delete one of the existing uploaded files first.
    The maximum number of 3 allowed files to upload has been reached. If you want to upload more files you have to delete one of the existing uploaded files first.
    Posting as