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Australian private credit firm Alceon is considering providing or acquiring debt secured by Bathla property assets as the Sydney developer seeks to refinance debts and restructure its sprawling property empire. The firm may invest at a steep discount if land values decline sharply.
Alceon, the Australian private credit heavyweight that was once Bathla’s biggest financial backer, is assessing the ruins of the once-sprawling Sydney property developer’s empire in the hope of finding gold.during a refinancing deal in December.
Now, the firm, co-founded Trevor Loewensohn, Phil Green and Morris Symonds, is mulling picking up or lending against Bathla’s land when it could go for cents in the dollar, multiple people briefed on the discussions said on condition of anonymity so they could speak freely.has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.is a co-editor of Street Talk.
She covers IPOs, capital raises, mergers and acquisitions and other breaking news in Australia’s capital markets. Previously, she covered financial services, state, and federal politics. Send tips to @angirab.60 on encrypted messaging platform Signal.
Alceon Bathla Private Credit Property Development Debt Refinancing
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