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FIIG arranges $35m notes offer for Elanor Investors

04 October 2017 By Oksana Patron


ASX-listed real estate funds management business, Elanor Investors Group (ENN) has announced it will undertake an unsecured note offering to raise a minimum of $35 million with the right to accept up to $40 million.

Proceeds from the note offer would be used by ENN for acquisitions, capital expenditure and general corporate purposes.

FIIG Securities’ head of debt capital markets, John Ricciotti, who would be working with Elanor to help diversify its capital structure through the issue of a five-year bond, said that the company was well positioned to take advantage of the increased activity across the retail, commercial, hotels, tourism and leisure sectors.

The five-year notes would be expected to pay a fixed rate of 7.10 per cent per annum and will be available to professional and sophisticated investors.

“Elanor is a successful property funds management business, with a focus on the retail, commercial and hotels, tourism and leisure sectors,” Ricciotti said.

“As the Australian tourism market continues to grow, Elanor is well positioned to take advantage of the increased activity in these sectors.”

Australian specialist fixed-income dealer, FIIG Securities has arranged so far over $1.7 billion in funding across 41 bond issues.

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