Investment Matters

Company news: TZ Limited

First Samuel has provided TZ Limited (the smart lock company), and an Equity allocation investment with a $3.0m secured debt facility.  Because the company is smaller with rapidly growing sales, the facility will be used by the company to assist with smoothing its cash flow.  The initial loan term of 24 months can be extended by one year.  It pays an interest rate of 4% plus 90 day BBSW (bank bill swap rate), giving a current yield of 5.76%, which will step up if the term extension option is utilised.  This investment will be part of the Fixed Income allocation (for clients with this allocation).