MELBOURNE, Australia, June 13, 2023 /PRNewswire/ -- Win Senior No. 438 Pty Ltd ACN 657 296 501 ("Wingate") has been appointed to assist with a debt financing for Bardsville Pty Ltd ACN 060 039 858 in its own capacity and in its capacity as trustee of The Walk Unit Trust ABN 52 645 417 935 (the "Issuer").

Wingate is pleased to offer you, as agent for, and on behalf of, the Issuer, the opportunity to participate as a lender in a $211,700,000 syndicated facility agreement (the "Facility").

The details of the Facility are as follows:

Issuer	Bardsville Pty Ltd ACN 060 039 858 in its own capacity and in its capacity as trustee of The Walk Unit Trust ABN 52 645 417 935
Facility Amount	AUD $ 211,700,000
Minimum participation	AUD $ 10,000,000
Maturity Date	Construction Facility: the date that is the earlier of: -  30 August 2025 -  One month after the date of practical completion of the project -  21 months after the initial draw, which may be extended by up to 2 months by the Issuer with the consent of the facility agent for delays in the project (an "Extension") Investment Facility: the date that is the earlier of: -  30 June 2026 -  12 months after the initial draw of the Investment Facility, as reduced by the length of any Extension
Interest Rate	Construction Facility: one month BBSW plus a margin of 2.50% per annum (increasing to 7.25% from the date of practical completion of the project and increasing by a further 5% for periods of default), compounding monthly and payable at maturity Investment Facility: one month BBSW plus a margin of 7.25% per annum (increasing by a further 5% for periods of default), payable monthly
Fees	Construction Facility: Line fee of 1.25% per annum until the initial draw and increasing to 2.50% per annum from the initial draw until the date of practical completion of the project, based on the Facility Amount, compounding monthly in advance and payable at maturity
Purpose	To finance costs (including construction costs and financing fees and costs) associated with the development of a hotel above 6,054 sqm of retail and complementary non-retail GLAR on land situated in Melbourne, Victoria
Security	First ranking

Wingate is seeking expressions of interest from prospective lenders for participation as a lender in the proposed Facility to be undertaken in June 2023.

Interested investors are invited to notify Wingate of their interest in the Facility, the scale of their prospective interest in the Facility and any terms / conditions required in relation to that prospective investment. 

A draft syndicated facility agreement is available upon request.

Public Offer / Withholding Tax

This letter constitutes an invitation to become a lender under the Facility which will be documented under a syndicated facility agreement for the purposes of, and in accordance with, the "public offer test" in section 128F(3A) of the Income Tax Assessment Act 1936 (Cth) (Tax Act).

Lenders will be required to make the usual representations and warranties in relation to compliance with section 128F of the Tax Act.

Disclaimer

Nothing in this invitation constitutes a representation by the Issuer or Wingate or any of their Related Entities (as defined in the Corporations Act 2001) in relation to the Facility.  Investors must rely solely on their own investigations and not on any other information provided by the Issuer or Wingate in making the decision to participate in the Facility.

This invitation is open only to entities which carry on a business of providing finance. This invitation is not provided to any person located in a jurisdiction where its provision or dissemination would be unlawful. Any person who receives this invitation in circumstances where receipt of it is unlawful or unauthorised or requires Wingate to take any additional steps, including registration, must not accept this invitation.

Confidentiality

The information contained in this invitation and any other information provided in relation to the Facility must be kept confidential.

For expressions of interest and further information please contact Wingate:

Wingate Property Finance

Attention: Nick Jacobson and Michael Nathan 

 WINGATE | Level 48, 101 Collins Street, Melbourne, Vic, Australia 3000

| njacobson@wingate.com.au and mnathan@wingate.com.au | wingate.com.au

Source: Wingate