FIIG launches corporate bond
Bond specialist, FIIG Securities has moved to broaden its Australian corporates offering.
The company announce4d this week it would be acting as Sole Lead Arranger for a $40 million bond issue by Australian Securities Exchange (ASX)-listed information technology products distributor, Dicker Data Limited.
Commenting on the move, FIIG chief executive, Mark Paton, said the five-year subordinated floating rate notes issue had come at a time of strong investor appetite for bonds and would add further depth to the steadily-growing market.
"This is a great time for Australian corporates to access the bond market because there is a lot of unmet demand from investors for products offering a steady income at a higher yield than is currently available on term deposits," Paton said.
The bonds have a minimum initial investment of $50,000 and will be distributed to new and existing FIIG Securities clients who qualify as sophisticated or professional investors.
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