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.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
