Company: Mahogany Capital Limited

Code: MHZHA

Overview:

The Company. Mahogany Capital Limited is an Australian Limited Liability special purpose public company incorporated under the Corporations Act. The company is established to issue debt securities to investors. Mahogany previously undertook a similar issue of notes (Mahogany Notes Series I) in October 2004 which raised AUD$75 million. In March 2006, the company issued the Series Notes II in both Australia and Papua New Guinea. The issue of these notes is similar to the first issue in that the future issues of securities issued by Mahogany are expected to be limited recourse securities. The securities - Mahogany Series II Notes The Mahogany Series II Notes are a type of debt security, called a Portfolio Linked Note (PLN). The notes are structured as an investment that offers low risk on the repayment of Principal, while Interest payments are subject to higher risks. The notes are classified as unsecured notes under the relevant section of the Corporations Act in Australia. A Portfolio Linked Notes (PLN) is also called a Collateralised Debt Obligation (CDO). In traditional debt securities the repayment of principal and payment of interest is dependent upon the performance of a single entity. A PLN has payments referenced to the performance of a number of entities (collectively called the portfolio). In a PLN investment, an investor does not lend money directly or indirectly to the entities in the portfolio. An investor lends money to the issuer, and the issuer in return agrees to repay the money invested and to pay interest.

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