Sydney, Australia – 1 November 2024 – Keyview has now settled a new $85 million debt bridging facility with Elanor Investors Group (ASX:ENN). The funds will allow Elanor to complete its targeted asset disposition program and restructure its business in line with its new strategic direction.
The corporate debt facility is a senior secured loan against Elanor Investors Group’s total assets based on conservative debt coverage. Elanor will repay the Keyview Facility debt over time through the previously announced asset realisation program which is expected to release over $100 million of Elanor’s balance sheet capital over the next 18 months.
Elanor Investors Group, which has approximately $6 billion funds under management across its real estate and funds management businesses, commenced its restructure earlier this year, selling down some of its real estate holdings. These recent asset sales gave Keyview contemporaneous valuations and understanding of the liquidity of the assets within the Group.
Without any sector exposure targets within its investment strategy, Keyview can take advantage of market opportunities when they arise and the Keyview team believes market conditions are now favourable for this transaction. Non-residential real estate prices have declined over recent years, negatively impacting loan to value ratios for debt providers taking on sector exposures earlier in the cycle. However, prices are now showing early signs of recovery as workers return to offices and tourism continues to perform post the Covid shut-downs.
Keyview is a specialist private credit fund manager with expertise in opportunistic lending. Keyview is sector agnostic, instead favouring transactions that require solving for complexity, speed and/ or bespoke deal structuring. This has produced double-digit returns and capital preservation for its investors.
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About Keyview
Keyview is a specialist private markets investment firm and one of the only Australian based mid-market managers with an opportunistic credit focus and capability. Keyview Financial Group has originated $1.5+ billion in transactions since inception. Its investment objective is to achieve high risk-adjusted returns while preserving investor capital.
Disclaimer
Keyview Investment Management Services Pty Ltd (ABN: 15 667 825005) is a Corporate Authorised Representative (CAR No: 001304647) under the Keyview Investment Management Pty Ltd ABN: 24 665 351726 (AFSL No: 546 246). Keyview Investment Management Services Pty Ltd is the trustee of the Keyview Credit Opportunities Fund. Keyview Investment Management Pty Ltd (AFSL: 546 246) is the trustee of the Keyview Flagship Fund. The information is of a general nature only and does not take into account the objectives, financial situation or needs of any person. Before acting on this information, investors should consider its appropriateness having regard to their own objectives, financial situation and needs and obtain professional advice. No liability is accepted for any loss or damage as a result of any reliance on the information. Past performance is not a reliable indicator of future performance. Future performance and return of capital is not guaranteed. A copy of the Information Memorandum for each fund can be obtained at clientrelations@keyviewfinancial.com.
