MELBOURNE, Australia, March 7, 2025 /PRNewswire/ -- Hauton Rd Childcare Pty Ltd ACN 681 910 707 is seeking to raise a total of AUD 6,454,165 in funds by the issue of loan notes, according to an announcement today by the underwriter Banner Capital Management Limited (the Arranger/Underwriter). The issue comprises progressively drawn notes as detailed below.
The following is a text of the announcement:
Banner Capital Management Limited as Arranger and Underwriter has announced today that the Issuer is seeking to raise AUD 6,454,165 through an offer of a series of debentures (in the form of loan notes) for the purposes set out below.
The loan notes (the Notes) to the issued represent a loan commitment of up to AUD 6,454,165.
The offer is made to investors who are qualified as 'wholesale investors' as defined in the Corporations Act 2001 (Cth). The Underwriter has agreed to initially subscribe for the issued Notes on 28 February 2025 and will underwrite the issue for progressive draws.
This open letter constitutes an offer of the Notes for the purposes of the 'public offer test' in section 128F(3)(d) of the Income Tax Assessment Act 1936 (Cth), for exemption from Australian interest withholding tax.
Financiers and those in the business of dealing in debentures, or the buying and selling of loan notes or other debt interests and who are interested in subscribing for the Notes will be required to give customary representations, warranties and information about their status, to assist the Issuer to demonstrate compliance with section 128F of the Income Tax Assessment Act (Cth).
KEY FEATURES OF THE OFFER
| Issuer/Borrower | Hauton Rd Childcare Pty Ltd ACN 681 910 707 |
| Financier/Underwriter and Arranger | Banner Capital Management Limited ACN 600 738 181 as trustee of the Banner Wholesale Real Estate Credit Fund |
| The Offer | An offer to subscribe for Loan Notes on the terms described in the transaction documents. The general terms of the transaction documents are set out in this Term Sheet. |
| Security and Ranking |
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| Purpose | The proceeds of the issue of the Loan Notes will be used by the Issuer to settle the purchase of the Property and to fund construction draws. |
| Settlement Date | 28 February 2025 |
| Term | 18 months from the settlement date (with a 12 month minimum term) |
| Type of Instrument | Senior Loan Notes |
| Issue amount | AUD 6,454,165 (noting the Facility Limit will reduce to $4,693,340 unless a permit for 121 places is issued) |
| Interest Rate | 7.5% coupon per annum capitalising monthly and a 13% IRR per annum |
| Transferability | The Notes are freely transferable without the consent of the Issuer |
| Governing Law | Queensland, Australia |
The Issuer reserves the right in its absolute discretion to vary the terms set out above and accept or reject any offer. This offer will expire on 7 May 2025.