Lucas Total Contract Solutions (“Lucas”) is a well-diversified civil construction, infrastructure and resources contractor, with a long-standing track record of successful project delivery. Lucas operates throughout the Australian market and retains a strong market position in South Australia, having been a key participant in civil construction projects including South Australia's largest infrastructure project the New Royal Adelaide Hospital.
With a growing pipeline of infrastructure investment from Federal and State Governments, Lucas was seeking a simplified capital structure to increase operating flexibility and provide headroom for growth. FIIG arranged a $65 million Note issue which enabled the company to reduce its financiers from twelve to one and extend its maturity profile. The Note proceeds also provide additional liquidity for working capital and growth opportunities.
Lucas is the latest corporate to access the bond market through FIIG Securities to broaden its capital base. FIIG has provided a range of funding solutions across different sectors, including:
- Funding diversification to refinance and/or complement existing funding lines;
- Providing growth funding for capital expenditure and acquisitions; and
- Optimising the capital structure through extending maturities, fixed or floating rates, secured and unsecured funding structures.