☕ HECSyyy

Good morning. Young Aussies with a HECS debt are about to get slapped with a +7% hit to their balance — as this year's indexation will reflect the inflation blowout. This must be one of few years where the cost of HECS debt will exceed the cost of a mortgage. Don't fact check this.  

Good morning. Young Aussies with a HECS debt are about to get slapped with a +7% hit to their balance — as this year's indexation will reflect the inflation blowout.

This must be one of few years where the cost of HECS debt is more exxy (or HECSyyy?) than the cost of most mortgages. Don't fact-check this.  

--

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MARKET MOVERS

*Stock data as of the market close. Commodities and crypto data in USD.

Market news: In a bit of a meta moment, smash repair company, AMA Group, is getting absolutely smashed by the market after downgrading EBITDA guidance.

AMA Group now expects EBITDA of between $60-68m vs its prior guidance of $70-90m — with the company blaming the usual suspects: labour shortages and inflation.

The company has a market company of just $170m but carries net debt of $183m (as of Dec 22).

THE QUICK SYNC

  • Lindsay Fox’s 86th birthday bash comes with optional kilts. (AFR)

  • Grads could pay thousands more as HECS and HELP indexation goes ahead. (ABC)

  • Hundreds of Porter Davis homes to be completed after deal struck. (SMH)

  • Sydney businessman accused of selling national secrets to spies denied bail. (ABC)

  • Fox's US$1.6bn defamation trial delayed, network pursues settlement talks. (RT)

  • Sega to acquire Angry Birds maker Rovio for US$776 million (CNBC)

  • Name-that-tune game Heardle dropped by Spotify after a year. (AP)

  • Ferrari has record orders "well into" 2024, chairman says. (RT)

TRADING FLOOR

 M&A:

  • RP Infrastructure has acquired QLD-focused peer Ranbury, which services building, transport, resources and utilities sector. (AFR)

  • Aura Group has kicked of a sale process for 40% in Lannock Strata Finance. (AFR)

  • Caspin Resources shareholders take homee $20m from the BHP-OZ Minerals deal. (AFR)

  • Roc Partners has been taking a look at Pace Farms in the PwC run process. (AFR)

  • EML Payments' CEO leaves after the board appoints Barrenjoey to sell “all or parts” of the business. (AFR)

  • AustralianSuper backs the Genesis-led consolidation and revised $600m deal with struggling miner St Barbara. (AFR)

  • Yancoal leads race for BHP’s coal mining operations. (The Australian)

  • JPMorgan is believed to helping Ramsay Health Care with a revived plan to sell out of its $800m-plus Sime Darby Health Care. (The Australian)

 Capital Markets:

  • Virgin Australia is rescheduling its meeting with potential cornerstone investors for its potential IPO. (AFR)

  • Stockland Trust had ANZ, NAB, and Westpac start taking expressions of interest for a 7-year bond. (AFR)

  • Latin Resources is raising $30m for its Brazilian project. (AFR)

Latin Resource

VC:

  • Rosterfy, a people management software platform, received a $9.8m investment from Bailador Technology Investments. (StartupDaily)

  • Novalith has raised $23m in a series A fundraising led by Lowercarbon Capital. (AFR)

Others:

  • Macquarie Telecom is changing its name to Macquarie Technology Group to reflect the company’s future focus. (The Australian)

  • Revolution Asset Management pick up a mandate from UniSuper. (AFR)

  • Jarden has injected $20m into its Australian subsidiary. (The Australian)

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THE WATERCOOLER

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