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Bond funding in the Livestock Financing sector to accelerate growth

Issuer Profile

Established in 2014, StockCo was the Australian subsidiary of a livestock finance group established in New Zealand and has been operating for more than 20 years. In this time, it has funded more than NZD$1bn of livestock. In May 2022, StockCo was acquired by Heartland Group Holdings Limited, an NZX and ASX listed financial services group with operations in New Zealand and Australia.

StockCo’s specialist finishing finance product provides short-term finance facilities for pasture and feedlot based cattle and sheep producers. The finance is provided for finishing purposes, where young, healthy livestock are on a rising plan of nutrition that are rapidly increasing in value and the where the risk of mortality is low.

Issuer Need

StockCo was provided start-up capital by Nomura in 2014 and since that time had successfully replicated their model in Australia and grown the loan book to AUD$85m. StockCo was looking to diversify its funding structure and allow for more sustainable growth. As part of this process, Agribusiness giant Elders invested equity into StockCo.

FIIG Solution

FIIG was able to provide an initial $30m tranche of Subordinated Notes to refinance Nomura, reduce the senior lender’s exposure and provide headroom for additional financing at the senior level. Following the successful Notes issue in October 2016, StockCo grew in excess of their forecasts, and an additional $17m was raised to provide additional headroom at the senior level.

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, please visit or contact Daniel Jones.

 Contact Daniel Jones on
+61 436 944 566