MAB Funds as Trustee of the MAB Corporation Syndicated Loan Fund raised funds from wholesale investors in May 2016 and made a loan to MAB Corporation Pty Ltd (MAB Corp) for use as working capital.

For an investor who was also a purchaser of an apartment in MAB Corp’s Banksia residential development the proceeds upon payment of the final distribution was applied to reduce the amount payable on the settlement of the purchase of the investor’s apartment/s.