Metrics Credit Partners is pleased to announce that Metrics Master Income Trust (ASX: MXT) will resume trading today following the successful completion of a $315 million wholesale placement.

The funds raised will be invested in new lending opportunities to further diversify the Trust’s current portfolio, in line with its investment mandate and target annual return of 3.25% above the Reserve Bank of Australia’s cash rate.

Commenting on the completion of the Placement, Metrics’ Managing Partner, Andrew Lockhart said:

“We are very pleased to have completed this wholesale placement and to have received such strong investor support of MXT.

This is a resounding vote of confidence in the Trust, its almost eight years of demonstrated performance, and its ability to deliver on investment objectives.

The proceeds raised under this placement will allow us to continue providing a valuable source of non-bank finance to Australian companies, ensuring greater portfolio diversification for MXT, and in turn, deliver enhanced outcomes for our investors.

Since inception, the Trust has grown its exposure from 55 directly originated loan assets to now in excess of 300 loan assets. Today the Trust is one of the largest investment platforms providing investors exposure to private credit with ASX secondary market liquidity and paying monthly cash income. The Trust will have a Net Asset Value (NAV) of circa $2.44b post Placement completion.

We again thank investors and will continue to seek to originate transactions that are in line with the Trust’s investment strategy, creating diversified exposure to the Australian corporate loan market”.

The New Units issued under the Placement are expected to rank equally with existing fully paid ordinary units on issue in the Trust with effect from their date of issue, including in respect of entitlement to distributions.

Joint Lead Managers on the offer were Ord Minnett Limited, E&P Capital Pty Ltd, Morgans Financial Limited, Taylor Collison Limited and the National Australia Bank.

For further information on the wholesale placement, please see the ASX announcement here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02951899-2A1599130&v=04711220c3a57065317ba4efca4a3459a4e46882