360 Capital announces offering
Publicly-list manager, 360 Capital Group has announced a senior unsecured note offering aimed at raising $50 million, with the right to accept up to $75.0 million.
The company told the Australian Securities Exchange this week that proceeds from the Offering will be used to fund the approved takeover of the 360 Capital Diversified Property Fund, provide underwriting capital and also further working capital as the Group continues to grow its funds management business.
The announced said that, additionally, the Group would repay the current drawn amount of $15.8 million from its debt facility with National Australia Bank (NAB), while keeping the $25.0 million facility in place to give the Group funding flexibility going forward.
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