Almond Lake raises A$59.7M in private debt to refinance and fund construction, restricted to qualified investors.

Almond Lake Pty Ltd is offering A$59.68 million in senior secured loan notes via Banner Capital Management Limited to refinance debt and fund construction, with funds drawn progressively up to a peak of A$35.89 million. The notes are available only to qualified wholesale investors under Australia’s Corporations Act, are exempt from Australian interest withholding tax for non-Australian holders, and are freely transferable. The offering is not a public prospectus, has not been registered with ASIC, and is restricted in the U.S. and other jurisdictions. Banner Capital, an Australian property debt specialist since 2012, acts as arranger and underwriter.