Zagga is an originator, facilitator and manager of short term Commercial Real Estate Debt (“CRED”) loans. Since 2017, the group has originated over 150 loans totalling over $720m.
Following the company’s FIIG-arranged A$30m, 5 year senior secured note issue in November 2021, FIIG Debt Capital Markets was able to work with Zagga to “tap” the existing ZILT7 bond for an additional A$13m. Aggregate proceeds of A$43m will be used to acquire a portfolio of loan interests with underlying loans subject to strict qualifying criteria and ultimately backed by 1st registered mortgages over Australian real estate. Notes also benefit from multiple layers of protections, including a cash funded first loss of up to 10% provided by Zagga.
The ZILT7 issue is the first bond FIIG Securities has arranged in the CRED sector. We continue to see strong demand for good quality, high yield opportunities and are pleased to have partnered with Zagga to bring this innovative issue to the Debt Capital Markets.