30th Nov

UNITE Bond Comes Together Early

UNITE Group has today announced that its issue of 6.125% sterling bonds due 2020, which was originally scheduled to close next Wednesday 5th December, will close early at 10.00am on Monday 3rd December.

Subscriptions for bonds received after the issue of its announcement which was issued shortly after 10.00 am on Friday 30th November may or may not be accepted and, if accepted, may be scaled back. 

The aggregate nominal amount of the bonds to be issued will be at least £75m. Mark Allan, Chief Executive Officer, commented: "We are delighted at the success of UNITE's debut retail bond. The extremely positive response from investors demonstrates the attractiveness of UNITE and its consistent income streams which provide stable returns.

"This issue will allow us to access a new source of finance and diversify our sources of finance." 

This announcement will be seen as a positive endorsement of the retail bond market following the cancellation of the 5.5% bond planned by Stobart Group earlier in the week. 

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