30days
free
Newsletter

CML Group to issue $25 million in fixed rate bonds

Categories: Bonds

CML today announced the proposed issue of new 6 year fixed rate notes paying 8.00% p.a. The proceeds will be used will assist in the acquisition of CashFlow Advantage and general corporate purposes. The group is seeking a minimum of $20 million from the deal and will not accept oversubscriptions of $25 million.

The notes will be callable in March 2021 and if not called, will offer an step-up in the coupon rate of 1.00% to 9.50% p.a. for the final year until maturity (March 2022).

CML Group is a ASX-Listed provider of finance, payroll and recruitment services.