Global firm offers offshore bond for Australian real estate

Global real estate funds management company Agincourt Capital is launching what it says is a world first - a secured, convertible offshore bond fund for Australian real estate.

Global real estate funds management company Agincourt Capital is launching what it says is a world first - a secured, convertible offshore bond fund for Australian real estate.

Agincourt said the fund would allow Chinese and foreign investors to capture opportunities in Australian real estate through convertible bonds.

It is seeking about $A500 million from the five-year bond.  The bonds are senior secured convertible debt with a yield of four percent per annum. 


Agincourt's chief executive Craig Turnbull said there had already been interest from international investors and that the fund was targeting a net IRR of 10-20 percent.

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