SanCap Finance, the company mandated by ACTVENTURE to facilitate the capital structuring for their $450m integrated tourism resort on Queensland's Sunshine Coast have disclosed a $30m underwriting agreement has been secured with an Asian investment group. SanCap is an adjunct of SANAD, the master developer for the project.
The announcement comes after SANAD last week revealed concept plans for an 8ha leisure park on the Steve Irwin Way site, which will draw inspiration from glamping destinations across the globe and provide a mix of cabins, powered sites and glamping tents.
SanCap have a mandate to assist with the total financial requirements for ACTVENTURE, which will consist of around $30m equity and a $120m debt facility to complete Stage One.
Bradley P. Sutherland, CEO of ACTVENTURE said "finalising the $30m underwriting agreement is a landmark achievement for the project as it enables us to move swiftly with negotiations for the $120m construction facility to take Stage One to financial close". Furthermore, Sutherland said "with the International interest in ACTVENTURE we had last year on our Asian Roadshow we look forward to the IAAPA Asian Attractions Expo in Hong Kong to cement relationships".