Invitation to submit ABSF investment proposals
16 December 2019
The AOFM invites market participants to submit proposals to be considered for investment by the ABSF. The deadline for receiving proposals is midday (AEDT) on 15 January 2020. More information and guidance on the format of investment proposals is provided below.
Proposal format
Proposals should include the following:
- A pitch book or standard investor information pack, including background material on the proponent’s organisation, its loan portfolio, and in particular the loans that are included in the transaction proposed for investment by the ABSF.
- A draft Term Sheet detailing the terms and structure of the transaction that is proposed for investment by the ABSF. Proposals may include alternative structures or ranges around transaction parameters for the AOFM’s consideration.
- A statement of claims against the ABSF investment principles. This should be focused and succinct and limited to no more than one page per principle. Where principles have already been fully addressed in the background material provided in (1), it is acceptable to simply refer to the relevant page number or section.
- A completed copy of the SME lending market survey, which can be downloaded here.
Questions regarding the format of proposals should be submitted in writing to absf@aofm.gov.au prior to midday (AEDT) on 24 December 2019. At the AOFM’s discretion, de-identified questions and answers may be published on this webpage for the benefit of clarifying instructions for all proponents.
Proposals may be submitted by the issuer, or on behalf of the issuer by the arranging bank, by email to absf@aofm.gov.au. The deadline for receiving proposals is midday (AEDT) on 15 January 2020.
Expected timeframe
The AOFM expects to announce its decision for this first round of ABSF investments late in the first, or early in the second, quarter of 2020. Decision timing will be a function of the number and complexity of proposals received. The AOFM will notify proponents individually of the outcome of their proposal, and will endeavour to notify proponents who have not been shortlisted as soon as possible.
