Elanor Investors Group (ASX:ENN) said its AU$125 million balance sheet recapitalization with Rockworth Capital Partners was completed on Friday, according to a same-day Australian bourse filing.
The refinancing includes a AU$70 million senior secured debt facility, through loan notes, AU$55 million in perpetual, subordinated, unsecured capital notes, and 30 million unlisted warrants to acquire Elanor securities at a nominal exercise price of AU$0.01 per warrant.
It will use the proceeds to repay the existing Keyview senior facility, redeem the existing Elanor Corporate notes, repay certain commercial arrangements, and for additional working capital.
Rockworth and Elanor extended the sunset date for the Firmus business acquisition to May 31.
The Australian Securities and Investments Commission (ASIC) issued a new Australian Financial Services license to Group Funds Management, a wholly-owned unit of Elanor Investors Group. Group Funds is proposed to become the new responsible entity of the existing Elanor Investment Fund, subject to approval at a meeting of Elanor securityholders.