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Adamas Finance Asia Finds Partner To Invest In Japanese Ski Project

(Alliance News) - Adamas Finance Asia Ltd said Monday that it has found a co-investor for a USD4 ...

Alliance News 15 July, 2019 | 2:09PM
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(Alliance News) - Adamas Finance Asia Ltd said Monday that it has found a co-investor for a USD4 million lending facility it extended to a Japanese residential project late last year.

The London-listed pan-Asian diversified investment vehicle said a Hong Kong-based family office have agreed to co-invest in a senior secured loan note facility provided by Adamas to Infinity Capital Group, a developer of residential projects in the Japanese ski village of Niseko.

The investment was initially announced by Adamas in December 2018.

The terms of the loan remain the same, being capable of being drawn down by Infinity Capital in two equal tranches of USD2.0 million and paying a coupon of 17.5% per annum in cash. The first tranche of the loan was drawn down by Infinity Capital on January 31.

Upon completion of the co-investment agreement, the family office will pay USD1.0 million in cash to Adamas, being 50% of that first draw down. The second tranche will be funded equally by Adamas and the family office.

Adamas said the co-investment agreement will enable it to re-allocate capital within its pipeline of high-growth Asian small and medium-sized enterprises

By Tapan Panchal; tapanpanchal@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Adamas Finance Asia Ord 24.00 GBX -12.73

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