The bond already has raised over $30 million, and once the next tranche of the bond is released, Pallas expects a greater degree of interest from institutional investors up to the full raise of $100 million.
Minimum investment per note is A$10,000 with a maturity date of 30 November 2024.
Investments are backed by registered First Mortgage Security over premium, metropolitan pre-development, development and investment properties in Sydney and Melbourne.
Pallas Capital launched this high yield bond issue late last year through Australian Bond Exchange.
Established in 2016, Pallas specialises in the provision of structured debt and equity products to Australian real estate owners and developers.