The Next Generation Clubs Australia Group (“Next Gen”) owns and operates 6 premium health clubs in capital cities across Australia and New Zealand. Supporting over 28,000 members, the clubs offer multi-service health, wellness and leisure facilities including tennis and squash courts, indoor and outdoor pools, spas, saunas and full services gyms.
FIIG has arranged a $45m 5-year Note Issue, the proceeds of which refinanced the Group’s existing bank debt, but also provided additional flexibility to reinvest cash flows into the business for future growth and provide construction funding for a new development in Melbourne. This has been the first time that FIIG has structured a bond to fund a specific construction project and demonstrates FIIG’s ability to tailor and facilitate bespoke transactions for prospective Issuers.
Next Gen is the latest corporate to access the bond market through FIIG to broaden its capital base. FIIG has provided a range of funding solutions across different sectors, including:
- Funding diversification to refinance and/or complement existing funding lines;
- Providing growth funding for capital expenditure and acquisitions; and
- Optimising the capital structure through extending maturities, fixed or floating rates, secured and unsecured funding structures.