ASX-listed MONEYME have introduced that it has fashioned a strategic funding partnership with one among Australia’s main different asset funding platforms, iPartners.
MONEYME has secured a brand new A$125 million company funding facility which can exchange its current facility on considerably higher business phrases.
The brand new facility will refinance MONEYME’s current company debt, initially maturing in November 2025 with no early fee prices, whereas additionally enabling important mortgage e-book development and offering basic working capital for MONEY.
The preliminary drawdown on the power will probably be A$65 million, with an extra A$60 million accessible on an uncommitted foundation.
Settlement of the brand new facility with iPartners is anticipated to happen on Friday 20 December 2024, topic to satisfaction of customary situations precedent.
The structuring advisor on this transaction was Neu Capital, with Gilbert + Tobin and Hamilton Locke appearing as authorized advisors for MONEYME and iPartners.
Clayton Howes, MONEYME’s Managing Director and CEO, mentioned, “This funding partnership with iPartners is critical for MONEYME and helps our strategic targets.
“This 2.5x bigger facility, at a vastly decreased funding price, and importantly with out dilution to shareholders, will unlock important incremental development alternatives for the Group and help our persevering with development technique in 2025 and past. We’re happy to have executed this a part of our technique forward of time, and we’re excited to start the brand new yr with this in place.
“We’ve been extraordinarily impressed with the iPartners staff and are wanting ahead to an extended and profitable partnership.”
Travis Miller, iPartners Co-Founder and CEO, added, “We’ve watched MONEYME’s spectacular development throughout numerous securitisations, funding applications and product suite and wished to become involved. We’re excited now to have a seat on the desk and to have achieved our half in serving to obtain their subsequent section of development.”
