Current Unit Price: (20 min. delayed price) ASX:MXT $2.06 -0.48%
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Current Unit Price: (20 min. delayed price) ASX:MOT $2.06 0.00%
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Latest News

Rockpool dines on new $250m debt package

Australian Financial Review – 18 September 2019

Two banks and an Australian fund manager are set to bankroll Quadrant Private Equity’s restaurant owner Rockpool Dining Group.

It is understood Rockpool is set to rule off a $250 million refinancing having secured commitments from Australia’s ANZ Banking Group and Korea’s Shinhan Bank, and local credit fund manager Metrics.

Sources said the parties have agreed the terms and have their lawyers completing long-form documents to seal the deal. The funding package was structured as a straight bank debt deal.

It comes as Rockpool seeks funding for its planned expansion and after its owner parked plans to try and sell the business.

Rockpool management’s top priority is expanding its successful The Bavarian chain in the United States. The schnitzel and beer seller has emerged as the high-margin profit maker inside the wider Rockpool Dining Group and accounts for about half of its $400 million annual revenue.

Rockpool CEO Tom Pash, an American, recently told The Australian Financial Review his company could open 400 The Bavarian restaurants in the US. Each restaurant costs about $2 million – of which the landlord usually kicks in about $1 million – and they pay for themselves in a year, with a 50-50 food-drink split. It’s an opportunity that was scoped out more than a year ago.

It’s an interesting debt syndicate for Rockpool, which by combining a local bank with an offshore bank and a credit fund has shown how deep and varied funding markets are for financial sponsors this year.

Rockpool is understood to have organised the debt without advisers. [Citi has been working with the company and its majority shareholder in seeking a buyer and/or capital partner]. https://www.afr.com/street-talk/rockpool-dines-on-new-250m-debt-package-20190917-p52s15

Current Unit Price: (20 min. delayed price) ASX:MXT $2.06 -0.48%
NAV as at COB: 17.10.19 $2.0067
Current Unit Price: (20 min. delayed price) ASX:MOT $2.06 0.00%
NAV as at COB: 17.10.19 $2.0126

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All website content in respect of the MCP Master Income Trust ARSN 620 465 090 (the Trust) is issued by The Trust Company (RE Services) Limited ABN 45 003 278 831 AFSL 235 150 (Perpetual) as responsible entity of the Trust and is prepared by Metrics Credit Partners Pty Ltd ABN 27 150 646 996 AFSL 416 146 (Metrics) as the investment manager of the Trust.

The information provided in this website is of a general nature only and has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision in respect of the Trust, you should consider the current product disclosure statement (PDS) of the Trust and the Trust’s other periodic and continuous disclosure announcements lodged with the ASX, which are available at www.asx.com.au/, and assess whether the Trust is appropriate given your objectives, financial situation or needs. If you require advice that takes into account your personal circumstances, you should consult a licensed or authorised financial adviser.

Neither Perpetual nor Metrics guarantees repayment of capital or any particular rate of return from the Trust. Neither Perpetual nor Metrics gives any representation or warranty as to the currency, reliability, completeness or accuracy of the information contained in this website. All opinions and estimates included in this website constitute judgments of Metrics as at the date of website creation and are subject to change without notice. Past performance is not a reliable indicator of future performance.

Cororate Governance
Personal Trading in Non-Perpetual Securities | RE Services Personal Trading in Non-Perpetual Securities | Unitholders Communications Policy | Continuous Disclosure Policy

The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned May/2019) referred to in this document is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at http://www.zenithpartners.com.au/RegulatoryGuidelines

Disclaimer and disclosure

All website content in respect of the MCP Income Opportunities Trust ARSN 631 320 628 (the Trust) is issued by The Trust Company (RE Services) Limited ABN 45 003 278 831 AFSL 235 150 (Perpetual) as responsible entity of the Trust and is prepared by Metrics Credit Partners Pty Ltd ABN 27 150 646 996 AFSL 416 146 (Metrics) as the investment manager of the Trust.

The information provided in this website is of a general nature only and has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision in respect of the Trust, you should consider the current product disclosure statement (PDS) of the Trust, and the Trust’s other periodic and continuous disclosure announcements lodged with the ASX, which are available at www.asx.com.au, and assess whether the Trust is appropriate given your objectives, financial situation or needs. If you require advice that takes into account your personal circumstances, you should consult a licensed or authorised financial adviser.

Neither Perpetual nor Metrics guarantees repayment of capital or any particular rate of return from the Trust. Neither Perpetual nor Metrics gives any representation or warranty as to the currency, reliability, completeness or accuracy of the information contained in this website. All opinions and estimates included in this website constitute judgments of Metrics as at the date of website creation and are subject to change without notice. Past performance is not a reliable indicator of future performance.

Cororate Governance
Personal Trading in Non-Perpetual Securities | RE Services Personal Trading in Non-Perpetual Securities | Unitholders Communications Policy | Continuous Disclosure Policy

The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned May/2019) referred to in this document is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at http://www.zenithpartners.com.au/RegulatoryGuidelines

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