Tuesday 19 September 2017 by FIIG Research Trade opportunities

New FIIG originated bond issue – Lucas Total Contract Solutions

New Issue – Lucas Total Contract Solutions plans to issue $55m to $65m in senior secured amortising Australian dollar bonds


The Issuer

Lucas is a civil construction, infrastructure and resources contractor with a long standing track record of project delivery and relationships with clients, consultants, suppliers and subcontractors. This has assisted Lucas to complete thousands of varied civil construction, earthmoving and resources projects throughout Australia over the last four decades. The company is privately owned and was founded by the Lucas family in Adelaide.                                                       

Lucas’ focus is on supporting South Australian and Australian central and remote communities, having been a key participant in some of the state’s landmark civil construction projects such as the New Royal Adelaide Hospital and the Southern Express Way. The breadth of the company’s projects both historically and forecast is testament to its leading reputation as a Tier 2 contractor.

Lucas has demonstrated a stable earnings track record with strong EBITDA margins and historically maintained relatively stable earnings due to its core civil works business, while taking advantage of opportunities in resources.

For more information about Lucas, please visit their website at: www.lucastcs.com.au

The Offer

Lucas has announced today the issue of a five year, senior secured amortising note issue with a fixed interest rate, available exclusively through FIIG Securities Limited. Lucas is seeking to raise $55,000,000 to $65,000,000 to refinance existing debt and for general corporate purposes.

The Notes offer a fixed return (payable quarterly in arrears) of 8.00% p.a. until 29 September 2022. The Notes are callable at Lucas’ option on certain dates from September 2020 at $103 and on certain dates from September 2021 at $101.50.

FIIG is the Sole Lead Arranger for this transaction and the Notes are available to wholesale clients only (pursuant to the Corporations Act 2001 (Cwlth)), with an initial minimum subscription of $50,000 and in increments of $1,000 thereafter.

Issuer Lucas Total Contract Solutions (Holdings) Pty Ltd
Type of security Senior secured amortising notes
Coupon 8.00% pa
Maturity  September 2022
Offer size $55,000,000 to $65,000,000
Minimum initial investment $50,000

How to find out more and to apply?

For more information, please call your FIIG representative on 1800 01 01 81.