Latitude opens $150 million Capital Notes Offer

10 September 2021

Latitude Group Holdings Limited (ASX:LFS) today announced the opening of the Latitude Capital Notes Offer launched on 2 September 2021.

Latitude has allocated $150 million in firm commitments to Syndicate Brokers and Institutional Investors and the Margin has been set at 4.75% p.a.

The company also lodged today with the Australian Securities Exchange and the Australian Securities and Investments Commission a replacement prospectus for the issue of the Latitude Capital Notes, expected to be quoted on the ASX under the code LFSPA.

Given investor demand, Latitude through the bookbuild process increased the Offer size from an initial $125 million to $150 million, with the ability to raise more or less, and the Margin has been set at the bottom of the range of 4.75% - 5.00% p.a. indicated at launch.

Latitude Managing Director and CEO Ahmed Fahour said: “The success of the bookbuild is a strong endorsement by the investment community in Latitude’s financial performance and its growth plans.

“The funds raised by the Capital Notes will help support the optimisation and diversification of our funding and capital sources and allow us to pursue further growth opportunities.

“This includes accelerating existing opportunities, beginning with Latitude’s planned expansion into Asia, and pursuing new opportunities such as the acquisition of portfolios or platforms that complement our core business.”

Full details of this investment opportunity and the terms and conditions of the Capital Notes, including the Margin and increased Offer size, are provided in the replacement Prospectus.

The Offer is expected to close at 10am AEST on 23 September 2021. The Capital Notes are expected to be issued on 28 September 2021 and commence trading on the ASX on a normal settlement basis on 29 September 2021.

Insight Capital Advisors Pty Ltd is the Arranger to the Offer. Insight Capital Advisors Pty Ltd, Morgans Financial Limited, National Australia Bank Limited, Ord Minnett Limited and Westpac Institutional Bank, a division of Westpac Banking Corporation, are the Joint Lead Managers.

The Capital Notes are complex and involve risks that are different from ordinary equity. They are not suitable for all investors and contain features which may make their terms of issue difficult to understand. Investors should read and carefully consider the Prospectus in full before deciding whether to invest in the Capital Notes. Latitude strongly recommends that investors seek professional advice from a licenced adviser which takes into account their particular investment objectives and circumstances before deciding whether to participate in the Offer.

Media contact

Mark Gardy
Mark.Gardy@latitudefinancial.com
+61 412 376 817

DISCLAIMER

This announcement does not constitute an offer of any securities (including Capital Notes) for sale or issue or for the purchase of any securities. No action has been taken to register or qualify Capital Notes, or invite persons to purchase Capital Notes, outside Australia. In particular, this announcement does not constitute an offer of securities for sale, or invitation to purchase securities, in the United States. Capital Notes have not been and will not be registered under the US Securities Act or the securities laws of any state of the United States, and they may not be offered or sold in the United States. Capital Notes are being offered and sold in the Offer solely outside the United States pursuant to Regulation S under the US Securities Act.

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