27th Nov

Alpha Plus Holdings plc launches 5.75% secured retail bond

Alpha Plus Holdings plc, which owns and operates independent schools, colleges and nurseries throughout the UK, has launched a 5.75% sterling bond due 2019 secured against certain real estate and other assets of the Group. The bonds are available to retail investors and are being issued by the Company to repay shareholder debt and for general corporate purposes. 

The minimum investment is £2,000 with further purchases in increments of £100. Interest will be paid semi-annually, on 18 June and 18 December, in arrears in equal instalments of £2.875 per £100 of investment. The bonds will be available to trade on the open market after the initial offer period, which is expected to end on 11 December.

Alpha Plus Group was founded in 1931 as Davies, Laing & Dick College and today promotes itself as ‘The Gold Standard in Education’. The Group consists of fourteen schools and nurseries and five sixth form colleges throughout the UK, with a particular focus on London and is led by Graham Able, previously Master of Dulwich College.   

Alpha Plus Group is owned by DV4 Property Fund, a real estate investment fund advised by property investor Delancey and chaired by Sir John Ritblat. The company owns 19 schools, nurseries and sixth-form colleges across the UK in locations including Notting Hill, Tonbridge and Cambridge, providing education for some 3,600 pupils, with that number growing every year Its portfolio includes Wetherby and Pembridge Hall Schools in Notting Hill, Wetherby Preparatory School in Marylebone and St Anthony’s School in Hampstead.   

Canaccord Genuity is acting as lead manager of the issue


Posted on 28/11/2012 11:11:56

Very confident timing for the June interest payment. This is the point in the year where most schools cash balances will be under most pressure.

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