El Jannah Trade Idea: Senior Secured Loan Opportunity

Investment View: Participate / Maintain Exposure

IAM Capital Markets has been engaged to participate in the debt financing package supporting the acquisition of El Jannah. The opportunity provides wholesale investors with access to a senior secured floating rate loan issued by EJC Bidco Pty Ltd, offering exposure to one of Australia’s growing quick service restaurant businesses.

El Jannah is a senior secured floating rate loan issued by EJC Bidco Pty Ltd maturing in April 2032. The loan pays a coupon of BBSY 6M plus 5.25% and is currently available at a price of $101, implying a yield of approximately 9.69%.

IAM Capital Markets, alongside a select group of institutional investors, has been engaged to participate in the debt financing package supporting the acquisition of El Jannah.

Founded in 1998, El Jannah started as a family run business in Granville, Western Sydney. Since then, it has built a strong and loyal customer base through its differentiated quick-service restaurant offering. The group now operates more than 50 locations across a mix of corporate-owned and franchised stores.

Investment Rationale
IAM views El Jannah as an attractive income opportunity for wholesale investors, seeking exposure to a growing Australian quick-service restaurant business through a senior secured loan structure.

Key investment considerations include:

– Attractive floating-rate income, providing protection in a variable interest-rate environment.
– Compelling yield, supported by the loan’s senior secured ranking.
– Improving credit fundamentals, reflected in the company’s recent trading performance.
– Positive sales momentum, with average weekly sales recovering to approximately A$100,000 following the Ramadan period.
– Strong performance in New South Wales, El Jannah’s core market, where average weekly sales have remained resilient at approximately A$110,000.

IAM has also added El Jannah as a core loan position within its Managed Discretionary Account (MDA) portfolios, reflecting the company’s improved credit profile and supportive trading momentum.

Access to the full transaction materials remains subject to a non-disclosure agreement (NDA). Please contact us if you would like to discuss the opportunity in more detail