- Australian-based MCP Master Income Trust (MXT) is rounding up wholesale investors to raise funds for a Metrics Credit Partners investment
- MXT shares entered a trading halt this morning, with the company confirming shortly after it would be undertaking a placement
- Up to 95 million new ordinary fully paid shares are being offered up at $2.00 per share to be invested by Metrics Credit Partners, an asset management firm specialising in “direct lending”
- Metric’s Managing Partner Andrew Lockhart said the proceeds will allow the company to provide a source of non-bank finance to Australian companies
- Prior to the trading halt, MCP Master Income Trust shares last changed hands at $2.03
Australian-based MCP Master Income Trust (MXT) is rounding up wholesale investors to raise funds for a Metrics Credit Partners investment.
The company placed its shares in a trading halt this morning before announcing it would be conducting an institutional placement via the issue of up to 95 million new ordinary fully paid shares at $2.00 per share.
MXT describes Metrics as an alternative asset management firm specialising in direct lending to Australian companies, with assets under management totalling roughly $7 billion.
Metric’s Managing Partner Andrew Lockhart said the proceeds will allow the company to provide a source of non-bank finance to Australian companies.
“This placement is expected to deliver enhanced outcomes for investors via greater portfolio diversification, enhanced returns and lead to further cost reductions over time,” he commented.
Should the placement go as planned, the new shares are set to be issued on May 3 and commence trading on the ASX the following day.
Prior to the trading halt, MCP Master Income Trust shares last changed hands at $2.03.