Stretch Senior Debt

First mortgage construction finance at “stretched” Ratio’s:

• More flexible senior debt terms & conditions;
• Up to $100mil debt pieces;
• Cost of funds of 3.5% over BBSY and 3% line fee;
• Largely Superannuation fund sourced;

Attractions include:

• Up to 90% LCR for senior debt (combines senior and junior debt pieces into one facility);
• Reduced or no presale requirements;
• Willing to accept a developer who is stepping up in project size;
• No different treatment for Owner Builders (major banks typically reduce gearing with owner/builders).

Comparison example: