Stretch Senior Debt

First mortgage construction finance at “stretched” Ratio’s:

  • More flexible senior debt terms & conditions;
  • Up to $100mil debt pieces;
  • Cost of funds of 3.5% over BBSY and 3% line fee;
  • Largely Superannuation fund sourced;

Attractions include:

  • Up to 90% LCR for senior debt (combines senior and junior debt pieces into one facility);
  • Reduced or no presale requirements;
  • Willing to accept a developer who is stepping up in project size;
  • No different treatment for Owner Builders (major banks typically reduce gearing with owner/builders).

Comparison example: