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CVC to raise A$50M from convertible notes offering

CVC Ltd. plans to offer redeemable, unsecured convertible notes to raise about A$50 million.

The notes have an individual face value of A$100, according to a May 30 prospectus, which will be in effect for 13 months.

The offer will comprise a broker firm offer and an institutional offer for Australian and New Zealand institutional investors. Applications for the broker firm offer will run from June 7 to June 18.

Proceeds from the offer will be used to expand the asset manager's diversified and actively managed portfolio of assets, with plans to substantially invest the funds within six to 12 months of the June 18 closing date.

Evans and Partners unit Evans Dixon Corporate is the lead manager to the offer. AET Corporate Trust Pty Ltd. is the trustee for the notes.