AOFM ABSF Update

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AOFM ABSF Update

AOFM ABSF Update

Apr 01 2022

The AOFM today advised that another investment proposal has been approved by the ABSF delegate.

An allocation of $65 million has been made to a combined mezzanine/senior investment in a warehouse sponsored by ASF member, Prospa Advance, and arranged by a European bank, who will also act as a senior financier in the warehouse facility.

On 5 November 2021, the AOFM released a set of standing instructions to access the ABSF. Two key changes announced were that subsequent investment rounds would not include a deadline for making submissions and the AOFM encouraged proponents to engage with the AOFM prior to making a submission.

To further streamline the process, the AOFM today announced that proponents will no longer be required to complete the SME lending market survey (Item 4 under Proposal Format).

Where the AOFM identifies a need for additional insights into specialist segments of the SME lending market, it may do so via industry roundtables and/or direct engagement with market participants. The AOFM also continues to encourage SME lenders from underdeveloped sectors of the SME lending market to engage with the ABSF. 

An amended version of the standing instructions to access the ABSF can be found here.