FIIG - The Fixed Income Experts

Issuer Profile

CML Group Limited (“CML”) is an ASX-listed (ASX: CGR) provider of finance, payroll and recruitment services. CML’s two operating areas are (i) Finance, which provides disclosed factoring (disclosed invoice finance) to small and medium enterprises and (ii) Payroll and Other, which provides outsourced payroll solutions, employment and recruiting as well as immigration services. CML had a market cap of $19m as at May 2015.

Issuer Need

In 2015, CML issued $25m into the debt capital market, utilising the funds to acquire a factoring business. Subsequent to the issue, CML successfully grew its book in line with expectations. To facilitate further organic growth in its loan book and fund the acquisition of another competitor, CML was seeking additional funding.

FIIG Solution

CML’s stated strategy for its maiden Notes issue was to utilise them as the core debt facility and look to issue additional tranches as the business grew. FIIG was able to work with CML to structure an additional series of Notes to facilitate the additional funding and inject an appropriate level of flexibility to ensure that the issue and subsequent tap was complimentary to the broader capital structure and growth aspirations of the business.

Issuer Testimonial 

“CML was previously constrained by access to appropriate funding, being long-term and expandable. FIIG was quick to understand CML’s needs and their support has helped CML to accelerate its growth, both organically and through acquisition of aligned businesses.” CEO, Daniel Riley

Talk to us
Daniel Jones Director, Debt Capital Markets

Daniel Jones
Head of Debt Capital Markets

+61 436 944 566

FIIG Debt Capital Markets

FIIG has a proven track record of opening the Australian bond markets, having raised over $3.3bn of predominantly unrated bond funding across almost 100 issues.

The Debt Capital Markets team arranges long term, flexible AUD bond financing for rated and unrated Australian and New Zealand corporates. The DCM team also provides debt advisory services focused on optimising capital structures and diversifying funding options.

If you would like to learn more about how FIIG can assist in the growth of your business...

  Contact Daniel Jones on
0436 944 566