Sunland Group Limited (“Sunland”) was established in 1983 and over 35 years has become a diversified residential property development group that incorporates medium density housing/town house projects and urban (land) development, together with multi story medium and high-rise projects. Sunland listed on the Australian stock exchange in 1995 (ASX: SDG) and has a current market cap of more than $200m.
Following the company’s original FIIG-arranged $50m note issue in 2015, FIIG Debt Capital Markets has arranged a $50m, 5 year unsecured and unsubordinated note issue for Sunland. The note issue extended Sunland’s debt profile with long term capital which complements its other financing facilities.
“The new note issue, together with Sunland’s existing financing arrangements, will assist to fund the Group’s projects, developments, property investments and continued working capital.” Managing Director Sahba Abedian.
Following successful recent issues for Stockwell ($50m), Workpac ($30m), SCT Logistics ($100m) and Amour Energy ($55m), Sunland is the latest corporate to return to the bond market through FIIG Securities. FIIG has provided a range of funding solutions across different sectors, which have benefited companies by:
- providing funding diversification to refinance and/or complement existing funding lines;
- providing growth funding for capital expenditure and acquisitions; and
- optimising the capital structure through extending maturities, fixed or floating rates, and secured and unsecured funding structures.