6 Dec 2018 08:14
ADAMAS FINANCE ASIA LIMITED
("ADAM" or the "Company")
NEW INVESTMENT
Real estate investment in Japanese ski resort
Adamas Finance Asia Limited ("ADAM"), the London quoted pan-Asian diversified investment vehicle, is pleased to announce a new investment in Infinity Capital Group Limited ("ICG") through a senior secured loan note (the "Loan"). ICG develops premium residential projects in Hirafu Village, a world-class ski village in Niseko, Japan - one of the most popular winter travel destinations in the world.
The Loan principal is US$4.0M and will pay a coupon of 17.5% per annum in cash. The Loan will be drawn down in tranches with the first tranche to be drawn imminently. The Loan is secured by real estate assets which are also part of ICG's portfolio in Niseko.
Additionally, ADAM will be issued with detachable warrants. These warrants will give ADAM the right to subscribe to up to USD4MM in the equity of ICG or its parent company should either undertake a liquidity event, such as an Initial Public Offering.
The investment contributes additional diversification to ADAM's portfolio of pan-Asian SME assets and provides the Company with exposure to the rapidly growing Asian winter tourism market. Niseko was recently named as one of the top ten ski areas in the world by Snow Magazine.
Jones Lang LaSalle as property appraiser and a leading Asian law firm were appointed by ADAM on this transaction.
ADAM's Chairman, John Croft, commented on the new investment:
"We are delighted to be making this new investment and grow our high quality and diverse portfolio with a further attractive income accruing asset. Japanese tourism-focused real estate development is a rapidly growing sector. ICG operates the 'TELLUS' brand which has proven to be exceedingly popular and highly regarded in the market. We are pleased that our exposure will be through ICG and TELLUS, in Niseko, Japan's premier ski resort. We look forward to continuing to diversify our exposure to a variety of sectors and geographies across Asia, primarily through the deployment of income producing investments."
Enquiries:
Adamas Finance Asia Limited John Croft
|
+44 (0) 1825 830587 |
WH Ireland Limited - Nominated Adviser James Joyce James Sinclair-Ford |
+44 (0) 113 394 6600
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VSA Capital Limited - Corporate Broker Andrew Monk Andrew Raca |
+44 (0) 20 7220 0500 |
Buchanan - Financial PR Charles Ryland Henry Wilson |
+44 (0) 20 7466 5000 |
About Adamas Finance Asia
ADAM is a London quoted investment company focusing on delivering long-term income and capital growth to shareholders through a diverse portfolio of pan-Asian investments. It aims to provide uncorrelated returns through a combination of capital growth and dividend income from a broad spectrum of national geographies and asset classes from the Asian Small and Medium Enterprise (SME) sector.
The company's investment manager, Harmony Capital, which has a dedicated team with real Asian expertise, is focussed on the strategy of creating income and capital growth. Harmony is sourcing predominately private opportunities and has created a strong pipeline of income generating assets from potential investments in industries such as healthcare, fintech, hospitality, IT and property across Asia.
About Infinity Capital Group Limited
ICG is a Hong Kong based property developer with multiple active property development projects in Niseko, Japan. All high-end residential projects developed by ICG are branded as "TELLUS" and "TELLUS" is an exclusive trademark which forms part of ICG's portfolio. ICG is also looking at further property development projects in other parts of pan-Asia, including Australia, Thailand and Indonesia. ICG It is wholly owned by LC Capital Limited, a Hong Kong private equity firm.