22nd Nov

Stobart Delivers Early; Alpha Plus Targets A* Performance

Retail Bond Expert has learned that Carlisle-based transport and logistics company Stobart Group has achieved its relatively modest target of £25m with its six year 5.5% retail bond, and will close the offer tomorrow, November 23rd.

The closure of the offer four days ahead of schedule is in line with a large number of recent issues and reflects the popularity of retail bonds in the current economic environment.  

As Stobart can reflect upon a successful delivery, having done its homework, Alpha Plus Group is believed to be steeling itself for its first day on ORB with a launch of its own.  

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.  

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, and whilst Retail Bond Expert does not have full details of its terms, it is believed that the new bond will be the first to be issued onto the London Stock Exchange’s ORB marketplace on a secured basis.      

Full details will appear when they are received.

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