In mid-2024, PGIM Private Capital started developing a relationship with the AIDF. The Group was seeking pathways to simplify and add flexibility to its existing financing arrangements while also providing additional funding capacity to deliver the development of Stromlo Forest Anglican College. The AIDF was attracted to PGIM’s unique Shelf facility which would simplify its financing structure, provide funding / execution certainty, and add tenor and flexibility to its capital structure.
In October 2024, PGIM Private Capital provided the AIDF with a 3-year revolving PGIM Private Shelf facility of up to A$200m. PGIM Private Capital provided an initial draw of A$160m in 4 equal A$ floating-rate tranches across tenors of 7, 10, 12, and 15 years.
The AIDF appreciated PGIM Private Capital’s patient and relationship-based approach, its solutions-oriented mindset and knowledge of the education sector.