MPC Funding AUD CPI linked 31-Dec-25 Secured Indexed Annuity Notes Factsheet
MPC Funding Ltd is the financing arm of the Melbourne Convention Centre project. The development of the convention centre was via a Victorian government backed Private Public Partnership (PPP), with the Plenary Group Consortium (PCPL) engaged to design, construct and manage the facilities of the Melbourne Convention Centre.
Construction of the centre was undertaken by Brookfield Multiplex and was completed in 2008 with the official opening in May 2009. The centre achieved a 6 Green Star environmental rating, a world first for a convention centre. The convention centre consists of a 5,000 seat plenary hall, a 1,500 seat banquet hall, conference and meeting facilities and more than 2,800 car parking spaces.
Upon completion of construction the project has moved on to the low risk operational phase. The facilities maintenance contract during operations covers cleaning, security, asset maintenance and the management of car parking.
In return for providing the contracted services PCPL receives a quarterly service payment from the Victorian state government. As a result, around 98% of PCPL’s revenues come from the AAA rated Victorian government (with the small remainder coming from car park management fees and advertising). The quarterly service payment covers operating and maintenance costs for the facility as well as debt service and equity returns. The payments are indexed at the greater of 2.5%pa or CPI and at the completion of the operating phase in 2033, the facilities are returned to the state.
Note this content requires a wholesale client login.