Pegasus Capital has recently entered into commercial terms for establishment of a A$500m (senior) revolving financing facility (the “Facility”) backed by prime Australian mortgage loans made primarily to non-resident borrowers (the “Loans”).
Transaction documents were signed in February 2017.
The facility has been in operation for the past 12 months with circa $220M assets in the facility
100% of the underlying mortgage properties are in Australia. The non-resident borrowers are expected to be mainly from Indonesia, Singapore, Hong Kong, Malaysia, and mainland China.
The initial mortgage facility will support a portfolio of up to A$588m, subject to Portfolio Parameters and Eligibility Criteria.