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ABSF Update – Second investment round

The AOFM provided an update on the second investment round of the ABSF on 28 June 2021.

The AOFM now advises that two transactions have been given in-principle approval by the ABSF delegate for investment, subject to the satisfactory completion of commercial negotiations and documentation processes.

  1. An allocation of $87.5 million has been made to a mezzanine investment in a warehouse sponsored by GetCapital and arranged by National Australia Bank, who will also act as the senior financier. Other mezzanine investors are participating in the transaction.
  2. An allocation of $30 million has been made to a mezzanine investment in a warehouse sponsored by OnDeck Australia and arranged by Credit Suisse, who will also act as the senior financier.

In addition to these transactions, the AOFM is in discussions with proponents whose transactions are at differing stages of development and assessment.

The AOFM has offered unsuccessful proponents an opportunity to receive feedback on their proposals.

The AOFM’s investment manager, CIP Asset Management (CIPAM), has advised the AOFM on these transactions. The AOFM takes this opportunity to note that it has recently indicated to CIPAM that it will exercise its option to extend the investment management agreement for two years, from December 2021, to December 2023.