Fundamental Income Issues AAA Rated Debt
Closes
This is the third note issuance under Fundamental Income’s FI Master Trust program, its proprietary structured debt financing vehicle, and its first issuance to achieve a ‘AAA’ rating from Standard & Poor’s Ratings Services (S&P) on the senior class of notes. In addition to the new issuance, S&P also upgraded the outstanding A-1 Notes from FI Master Trust Net-Lease Mortgage Notes, Series 2023-1 from ‘AA’ to ‘AAA’ and affirmed the outstanding ratings for the Series 2023-1 A-2 Notes and the Series 2023-2 A-1 and A-2 Notes.
Chris Burbach, Chief Executive Officer of Fundamental Income, commented, “We are thrilled to announce the latest issuance from our FI Master Trust. Achieving the ‘AAA’ rating from S&P is a testament to the strength of both our team and portfolio and we are immensely proud of this accomplishment. The success of our offering further reflects the trust and confidence our investors have placed in us, and we are grateful for their continued support.”
The notes were issued to a diverse set of institutional investors in three classes of 5-year notes comprised of
In conjunction with the issuance, S&P also upgraded
“The ability to issue AAA rated debt allows us to better support operating businesses and business owners with efficient real estate capital along with the operational control and flexibility required in today’s business environment,” said Alexi Panagiotakopoulos, Chief Investment Officer of Fundamental Income.
The notes will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in
This press release does not constitute an offer to sell or the solicitation of any offer to buy the notes described herein nor shall there be any sale of the notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
ABOUT FUNDAMENTAL INCOME
Fundamental Income Properties is a
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Moira Conlon
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Source: Fundamental Income Properties