Insignia Financial (ASX:IFL) has declined National Australia Bank’s request for early repayment of $200 million in subordinated loan notes (SLNs), triggering a higher interest rate. As per the loan terms, the coupon rate increases from 1% to 4% from 1 March 2025, and an Additional Return Amount (ARA) of $53.5 million is payable at maturity on 31 May 2026. The decision stems from financing arrangements linked to Insignia’s 2021 acquisition of MLC Wealth. Financially, Insignia recognised a $37.7 million derivative liability for the ARA as of 31 December 2024, with a further $15.8 million adjustment to be recorded in 2H25. Shares are trading 4.45% lower at $4.08.
HealthCo Healthcare & Wellness REIT (ASX:HCW) has withdrawn its FY25 guidance after tenant and hospital operator Healthscope failed to pay full rent for March 2025, triggering breach notices. While a partial payment was received, HCW and the Unlisted Healthcare Fund (UHF) will enforce their legal rights and explore alternative hospital operators if Healthscope does not remedy the default. HCW holds $100 million in cash and undrawn debt facilities and expects support from HMC Capital, including deferred management fees. The REIT’s financial performance remains uncertain as it works to secure new tenants, with potential implications for investor confidence and income expectations. Shares are trading 6.01% lower at 91 cents.
InFocus Group Holdings (ASX:IFG), a data analytics and software solutions company, has secured a USD 1.52 million contract with Seychelles-based GBO Assets Ltd to develop a cross-border stablecoin-based payment platform. The project, spanning 24 months, includes an AI-powered order-matching engine for exchange rate optimisation and liquidity management. It will be executed in four phases, from system architecture to platform launch, with additional post-launch maintenance work bringing potential receipts to USD 1.9 million. This follows InFocus’ previous USD 2.5 million deal with GBO for a white-labelled digital gaming platform. The company will act solely as a technology partner, with no exposure to regulatory risks related to the cryptocurrency platform. Shares are trading 11.76% higher at 1.9 cents.
