Thomson Geer acted for Axsesstoday Ltd on its Simple Corporate Bond offer – only the fourth offer of its kind in Australia

25 July 2018

News

Thomson Geer acted for Axsesstoday Ltd (ASX: AXL) on its successful offer of Simple Corporate Bonds, circa $55 million, only the fourth offer of its kind in Australia.

Special Counsel, Sanushka Seomangal led the Thomson Geer team advising Axsesstoday Ltd, assisted by Associate, Nicola Moldrich and Law Graduate, Kylie Zih

Axsesstoday Ltd is only the fourth company in Australia to successfully launch a Simple Corporate Bond offer, highlighting its ability to attract investors from across the capital markets spectrum.

The offer received strong support from institutional and broker firm participants with the deal being increased from $50 to $55 million.

The Bonds enhance Axsesstoday’s funding structure and are expected to reduce its overall funding costs, whilst lengthening the maturity profile of corporate debt. The Bonds also provide access to a new and differentiated investor base, providing flexibility for Axsesstoday to expand into new sectors and products.

Axsesstoday CEO and Managing Director, Peter Ferizis, said

“We are delighted to have used this innovative listed debt product to help support our growth. It demonstrates the Company’s focus on continuing to expand and diversify its capital structure and will provide the flexibility to become the specialist SME lender of choice”.

Axsesstoday Limited is a specialist provider of funding solutions for small to medium sized enterprises (SMEs) in the hospitality, transport and other sectors. The company has continued to achieve strong growth since commencing operations in 2012 by providing a compelling and differentiated value proposition for merchant to offer finance to their end customers.