The different Note Series offer varying risk and return profiles, but all Series benefits from forms of credit enhancement and structural subordination.
$500,000
All noteholders are afforded protection through the application of the covenants set out in the Series Notice. Due to the relative ranking of the class of notes and application of the Payment Waterfall, a key covenant affording protection to A Class Noteholders is:
Assets of the Fund are applied in accordance with the Waterfall provisions defined in the Series Notice.
Rank ahead of any other obligation of the Fund.
7.00% per annum, payable monthly on the 10th business day of the month.
$500,000
All noteholders are afforded protection through the application of the covenants
set out in the Series Notice. Due to the relative ranking of the class of notes and application of the Payment Waterfall, a key covenant affording protection to B Class Noteholders is:
Assets of the Fund are applied in accordance with the Waterfall provisions defined in the Series Notice.
Rank after obligations to A Class Noteholders and ahead of all other obligation of the Fund.
9.00% per annum, payable monthly on the 10th business day of the month.
$500,000
All noteholders are afforded protection through the application of the covenants set out in the Series Notice.
Due to the relative ranking of the class of notes and application of the Payment Waterfall, a key covenant affording protection to C Class Noteholders is:
Assets of the Fund are applied in accordance with the Waterfall provisions defined in the Series Notice.
Rank after obligations to B Class Noteholders and ahead of all other obligation of the FC Capital loan book.
11.00% per annum, payable monthly on the 10th business day of the month.
Capitalised Terms are defined in the series notice of the fund, please contact info@oceanafunds.com to obtain a copy.