Ann: Trading Halt, page-59

My limited understand of the Nordic (because they are based in Norway) Bonds are that the company (CYM) approaches the broker / Manager (Pareto Securities) to put together an offer document with terms such as minimum working capital, use of funds raised, an attractive coupon rate (interest payable to the depositor) etc and broker the deal. The manager then goes to market asking potential investors to buy their bonds (loan the company money in exchange for an interest payment). The company pays annual interest at the relevant rate to the purchasers and at the end of the term repays the initial purchase price plus any owed interest.

My understanding is that Pareto charge a fee to do all this and roll it out to their own clients (eg European intergenerational family wealth, US pension funds, hedge funds etc) looking for a 5 year investment yielding c10-12% pa with low Australian sovereign risk. There would likely be minimum deposit amounts that could be in increments of $500K for example, up to as much as they feel comfortable to invest / risk.

Baz & Co will be on the blower whipping the hat around to all and sundry trying to raise funds and get them to commit to an amount, a book build, once they have the commitment equalling the amount required ($120-$170M) and met any terms of the offer document they will announce finance is finalised. I reckon that could take up to a couple of months.

In the meantime they need to keep the lights on and may need to satisfy some terms of the offer document so they do a CR. I will be participating in the CR.
Please correct me if I am wrong.