Sunland Group, an unrated leading property development group listed on the ASX announced that it is to undertake a 5-year medium term note (MTN) offering through the non- rated entity funding specialist FIIG Securities. The issuer is seeking to raise an indicative A$40 million with the ability to add another A$10 million in over subscriptions for a fixed rate of 7.55% p.a. Proceeds from the offer will be in addition to Sunland's existing banking arrangements will be used to fund the issuer's current property development land and residential projects and provide further working capital for the group.
The senior unsecured notes will pay an indicative interest rate of 7.55% and will require a minimum initial investment of $50,000 at issue. They will be distributed to new and existing FIIG Securities clients who qualify as sophisticated or professional investors.
