Zenith in $40m debt facility
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Belmont-based Zenith said it raised the money via a subordinated amortising fixed-rate note issue.
The debt carries a fixed interest rate of 7.55 per cent paid quarterly with a seven-year maturity.
Zenith managing director Hamish Moffat said he was very pleased with the level of support shown by FIIG’s network of investors.
“The success of the notes issue further strengthens Zenith Energy’s balance sheet, giving us significant flexibility as we continue to pursue our growth ambitions in Australia and internationally,” he said.
FIIG executive general manager fixed income, John Ricciotti, said bond investors were attracted to Zenith Energy’s business model and strong management team.
“Zenith Energy is the fourth issuer in the infrastructure sector that FIIG has arranged bond financing for,” he said.
“We are seeing strong industry growth supported by increased demand for alternate energy solutions.
The transaction was negotiated by KPMG’s Perth corporate finance team.
Shares in Zenith dropped 7.95 per cent to $1.10 each today.