- MCP Master Income Trust (MXT) has received binding commitments for more than 95 million units through an institutional placement
- MXT is one of several assets managed by Metrics, a firm that specialises in direct lending to Australian companies
- Through the placement, MXT’s responsible entity, The Trust Company will issue new ordinary fully paid units in MXT to investors, priced at $2 each
- The funds will provide an important source of non-bank capital to assist Metrics with financing Australian companies
- MXT shares entered a trading halt on April 22 and resumed trading on April 26
- MCP Master Income Trust shares are up 0.25 per cent, trading at $2.04 each
MCP Master Income Trust (MXT), via its responsible entity, has received binding commitments for more than 95 million units through an institutional placement.
MXT is one of several assets managed by Metrics, a firm that specialises in direct lending.
Through the placement, MXT’s responsible entity, The Trust Company, will issue new ordinary fully paid units in MXT to investors at $2 each.
The funds raised will provide an important source of non-bank capital to assist with financing Australian companies.
Metrics Managing Partner Andrew Lockhard commented on the placement.
“MXT has built a solid track record and consistently delivered on key investment criteria since listing,” Andrew said.
“This additional investor capital will provide for increased portfolio diversification which acts to lower investment risk, expected positive impact on total investor returns as new capital from this placement is deployed and invested, enhanced liquidity from the increased scale of MXT and expected further reductions in costs over time,” he added.
MXT shares entered a trading halt ahead of the placement’s announcement on April 22 and resumed trading on April 26.
MCP Master Income Trust shares are up 0.25 per cent, trading at $2.04 at 3:15 pm AEST.