Audacia Capital (Ireland) plc is a public limited company established and registered in the Republic of Ireland, and which has been approved by the Irish Stock Exchange (Euronext Dublin) for the issue of a 150,000,000 EUR programme for the listing of securitised Corporate Bonds. The purpose of the Company is to issue stock exchange listed Bonds for companies and in so doing, allow these companies to raise funds to be on-lent to their own projects via their own listed Bond.
As a listed vehicle on a recognised liquid exchange, and with the ability to be daily valued, and 30 day liquidity, each Audacia issued Bond should qualify as a ‘standard asset’ for retail investors in the UK as defined by the UK's Financial Conduct Authority. As an additional measure of security, Audacia Capital (the issuer), will retain a minimum of 8% of all funds raised in a ring fenced cash account to provide additional liquidity and security. Each Bond is therefore currently eligible to receive investment from pensions, ISA's, and private investors, albeit subject to the internal policies of trustees and institutions, and the normal duty of care to investors.
Section 110 - No Withholding Tax for Investors
The program is set up as a Section 110 structure which means investors in an Audacia issued Bond receive the full gross interest payment - there is no deduction for withholding tax. Most Bonds on the market fail to mention the deduction of tax from the headline coupon rate - Audacia S110 Bonds pay the full amount.
Audacia Capital (Ireland) PLC is listed on the Euronext Irish Stock Exchange (GEM)