FIIG Securities has been appointed the lead arranger in a $40 million unsecured corporate bond offer being undertaken Coffey International Limited.
The bond offering is intended to increase the tenure of Coffey’s debt maturity profile and diversify its debt funding sources with the net proceeds being used to repay existing bank debt.
Announcing the move, the company said the bond offering was only open to eligible professional and sophisticated investors and that no prospectus or other disclosure documents in relation to the bond would be lodged with the Australian Securities and Investment Commission or any other regulatory authority.
FIIG Securities chief executive, Mark Paton said the company was pleased to assist Coffey to diversify and lengthen the duration of its debt funding.
“Coffey’s bond offering is another positive development for the expanding Australian bond market for mid-sized corporates,” he said.