G8 Education Limited (GEM) announced on the ASX a four-year, floating rate, senior unsecured note issue (the Notes) with an indicative interest rate of BBSW +3.90%, available exclusively through FIIG Securities Limited (FIIG) on 17 February 2014. GEM, a child care and education centre operator, is looking to raise a maximum of $50 million to fund future acquisitions.
The initial offer was closed on 18 February 2014 with allocations to follow this week. It is anticipated that the Notes will commence trading in the secondary market on 3 March 2014.
FIIG is the Sole Lead Arranger for this transaction with the Notes available to wholesale investors only and in minimum subscription amounts of $50,000. The Notes provide investors with the opportunity to invest in an industry central to the broad economic goal of workplace participation and lock in a high floating rate margin.
These Notes represent the seventh issue FIIG has brought exclusively to our clients, including a previous fixed rate issue from GEM and we hope to continue to bring our clients exclusive offers in the fixed income asset class going forward.
The following charts demonstrate the price, yield and spread performance of the six previous FIIG-led deals from inception to 18 February 2014 as a function of trading days since issue.
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For further information regarding this issue or to inquire about secondary trading of the Notes, please contact your FIIG representative. FIIG will receive fees from the Issuer of the Notes.