FIIG - The Fixed Income Experts
Elanor Investors and FIIG Debt Capital Markets

Bond market delivers long term financing in the property sector

Elanor is an Australian real estate funds management business with a focus on retail, commercial, hotel, tourism & leisure industries. Since listing in July 2014, Elanor had grown its total funds under management and balance sheet investments from $173m to $841m (as at 30 June 2017). The group invests directly in various property opportunities, as well as indirectly via co-investment into the various property funds it manages.

Issuer Need

Elanor was looking to access medium term financing to diversify its capital structure away from the existing bank facilities and continue to co-invest into two recently announced new funds. Elanor was seeking capital to fund ongoing & sustainable growth, while maintaining a conservatively geared balance sheet.

FIIG Solution

FIIG was able to work closely with Elanor to issue the bond to the FIIG investor network. The terms of the bond allowed Elanor the flexibility to further invest in sustainable growth, while allowing investors the protection associated with a senior position in the capital structure. Shortly following the successful issue of $40m of Notes in October 2017, FIIG was able to raise an additional $20m less than 2 months later, to fund several new opportunities that had arisen for Elanor.

Issuer Comment

Glenn Willis, Elanor’s Managing Director & CEO said: “We are very pleased with the strong demand for the Group’s inaugural Note offering. This Note Issue provides medium term, permanent, non-dilutive capital to support our short to medium term growth.”

Talk to us
Erryn Lloyd-Jones - Head of Debt Capital Markets, Private Debt
Erryn Lloyd-Jones
Head of Debt Capital Markets

(02) 9697 8778

FIIG Debt Capital Markets

FIIG has a proven track record of opening the bond markets, having sole arranged over $1.8bn of predominantly unrated bond funding across more than 40 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 provides debt advisory services focused on optimising capital structures and diversifying funding options.

A selection of property-centric debt issues arranged by FIIG:

Impact homes - $45 million Senior Secured Notes

Sunland Group - $50 Million Unsecured Notes
Stockwell - $35 Million Senior Secured Notes
360 Capital - $75 Million Senior Unsecured Notes

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

  Contact Erryn Lloyd-Jones on
(02) 9697 8778