Fixed income manager FIIG Securities has announced it will undertake the distribution of a $75 to $80 million bond issue, targeting SMSFs and high-net worth investors.
The bond issue, arranged by FIIG, will consist of two bond types including a minimum of $30 million worth of four-year floating-rate notes, and a minimum of $45 million worth of six-year fixed-rate notes.
According to FIIG Securities, the bonds will have a minimum initial investment of $50,000 at issue and will be distributed to FIIG Securities clients who qualify as sophisticated or professional investors.
The bond issue is being undertaken for national multi-model transport and logistics company SCT Logistics, which predominantly provides long-haul rail freight services.
FIIG chief executive Mark Paton said the offering, which follows a series of recent bond issues, was further evidence of the growing awareness among Australian corporates that a bond issue is a reliable funding option.
“This is a very positive development because it recognises that private companies such as SCT Logistics can access the Australian bond market, reinforcing the maturity of the market and servicing the diversification needs of both investors and issuers,” said Mr Paton.
SUBSCRIBE TO THE SMSF ADVISER BULLETIN
- 21 Aug 2017Top investment mechanisms for tax savings revealedBy Staff Reporter
- 21 Aug 2017SMSFA appoints high-profile Australian as patronBy Staff Reporter
- 21 Aug 2017Lawyer challenges ATO view on two fund strategiesBy Miranda Brownlee
- 21 Aug 2017Risks flagged with real estate appraisal valuesBy Miranda Brownlee
- 18 Aug 2017ATO locks in details, addresses panic on real-time reportingBy Katarina Taurian
- 18 Aug 2017Data feeds unreliable for new reporting, says mid-tierBy Miranda Brownlee
- view all
- Top investment mechanisms for tax savings revealed
While super remains one of the most tax-effective ways to save for retirement, if you’re unable to stay within caps then it may be worth c...read more
- view all