Property investment platform LendInvest launched a five year retail bond, offering investors a fixed rate of 5.25 per cent. The Bond is due to reach maturity in August 2022.
The company raised an initial £50m through the launch, with the Bond listed on the Official List of the UK Listing Authority and admitted to the London Stock Exchange on 10th August 2017. Peel Hunt LLP acted as Lead Manager on the issue, but LendInvest Limited is the guarantor on the Bond.
The bonds will bear interest at a fixed annual rate of 5.25 per cent, payable semi-annually on 10th February and 10th August. The minimum initial subscription is £2,000, each Bond has a face value of £100. Now launched, investors will be able to sell their bonds on the open market at any time during market hours. The offer period is now closed as of 12 noon (London time) on 4 August 2017.
Of the issue, CEO Christian Faes said:
In an era of record low interest rates coupled with constrained bank lending, LendInvest has developed a unique and compelling proposition for borrowers, through speed of execution and increased efficiency, and for investors, by offering access to a much sought after asset class delivering compelling returns. As we continue to scale the business, we’re increasingly looking to diversify our funding model and expand our capacity to lend to underserved borrowers, as well as to create new entry points to an attractive asset class that suits a broader range of investors seeking competitive risk-adjusted returns. The launch of this bond allows us to achieve both of these ambitions, supporting future growth goals.
- Minimum initial subscription amount of £2,000
- Experienced team: LendInvest also boasts a fund management arm
- Five year 5.25 per cent secures sterling retail bond
- First interest payment date: 10th February 2018
- Maturity date of the Bond: 10th August 2022
- Publication of Prospectus and open of the Offer: 19th July 2017
- Latest time and date for confirmed online entry of Bond orders: 4th August 2017
- Sizing announcement (confirming total amount of Bonds to be issued): 7th August 2017
- Issue date of the Bonds: 10th August 2017
- First day of LSE/ORB trading: 10th August 2017
This information is issued by, and is the sole responsibility of SyndicateRoom and any application to participate in the Offer can and will only be made on the basis of the Prospectus, together with any supplements thereto.