Longreach has issued its fourth series of commercial paper, A$13.41 million of asset-backed medium term notes. The underlying assets are loans to growers of Tasmanian blue gum, olive groves and almond plantations. Allco Management Ltd arranged and lead managed the deal.
The loans are originated by Timbercorp Finance. In February Timbercorp Finance securitized loans funding investments in forestry plantations via the Asia Pacific Receivables Corp., which issued A$41.42 medium term notes.