Sponsored by Laminar Capital
Asymmetric Credit Partners (under terms and conditions set out under the Information Memorandum dated February 2018) will be issuing Senior Secured Fixed Rate Bonds. The issue size is $6 million. The Interest Rate will be fixed at 8.00% p.a. until the Call Date. If the deal is not called the fixed coupon will step-up to 10.00% p.a. until Maturity on 2 December 2019. Interest is paid Quarterly on 2nd March, June, September and December commencing on 2nd June 2018 up to, and including, Maturity Date or any earlier redemption date.
The proceeds of the issue of the Notes will be used to provide bridging debt finance (“Loan”) in an amount of AUD $7.5 million to the Northam Solar Project described below.
The Northam Solar Project involves the construction and operation of a 10 MW Solar Power Station in Northam, Western Australia. The project is currently undertaken by Carnegie Clean Energy Limited (ASX: CCE) (“Carnegie”). The project will consist of approximately 34,0100 solar panels constructed on 25 hectares of strategically-located land to deliver approximately 24,000 MWh of electricity per annum for at least the next 25 years.