- Raising efforts to fund redemption of wholesale notes maturing in April this year
- The notes from this raise have a $100 face value, maturing in April 2026
- The offer is not open to the general public
Centuria Capital Group (ASX: CNI) announced a trading halt on Monday of this week, prior to the announcement of a $100 million listed notes offer announcement.
The announcement noted that the trading halt would last until yesterday (before the opening of trading on 23 March 2021).
The raising efforts are for Centuria Capital No.2 Fund, the company said “The proceeds of the Offer will be used to redeem a series of Wholesale Notes that mature in April 2021 as well as support Centuria Capital Group’s REIT co-investment programme, strategic acquisitions and to accelerate the growth of its unlisted property funds division.”
No general public offer has been made, the company said the offer includes: an institutional offer to “certain institutional investors”, a broker firm offer, and a security holder offer to registered holders of CNI stapled securities with an Australian or New Zealand registered address and residency.
With a face value of $100 per note, the offer term is for five years, “… maturing on 20 April 2026,”.
The timeline of events according to the company in a prospectus released on Monday this week, with the bookbuild to determine the margin and announcement of margin on 29 March.
The offer opening date has been set for 30 March 2021, with close at 5:00 pm AEST, 14 April 2021. The first distribution payment date will be on 20 July 2021.