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Bond issue for litigation funder opens to SMSFs

Bond issue for litigation funder opens to SMSFs

24 March 2016 — 1 minute read

Litigation funder IMF Bentham Limited has announced the launch of a bond issue of $30 million, available to wholesale investors as well as private and SMSF investors.

FIIG Securities, who will arrange the issue, said it is a four-year and three-month fixed-rate senior secured issue, and will pay a fixed rate of 7.40 per cent.

The principal activities of the company, FIIG said, are the “investigation, funding and management of litigation claims”.

FIIG chief executive Mark Paton said IMF Bentham has a “successful track record, supported by a strong Australian business, and expanding overseas operations in markets such as the US”.

“IMF represents a unique opportunity for investors to seek diversification in a defensive sector that has a low correlation to the general economy,” he added.

"When you consider that these bonds are also paying a high yield of 7.4 per cent, this will be highly sought after by private investors and SMSFs seeking income."

IMF Bentham CEO Andrew Saker said the company would use the funds raised to invest in funding future litigation including class actions, liquidations and general litigation.

IMF Bentham is seeking to raise $30 million through the bond issue, FIIG said, but will accept oversubscriptions to $50 million.

Read more: 

Roadblocks surface ahead of ATO’s deadline

Disruption an enabler for SMSF accountants, says Count

Low cash rate drives take-up of annuities

Bond issue for litigation funder opens to SMSFs
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