16th Apr

IPF hopes for high level of interest with 6.125% Retail Bond launch

Describing itself as a ‘home credit service’ for people ‘who want to borrow money quickly and in a manageable and transparent way’, International Personal Finance (IPF) operates in Poland, the Czech Republic, Slovakia, Hungary, Mexico and Romania, and offers short-term cash loans of £50 to £1,000 as well as a home collection service.

IPF is FTSE 250 listed and was floated on the London Stock Exchange in July 2007; it has 2.4 million customers and more than 6,000 employees.

The company's share price is currently 428.9 pence and it made a profit of £95.1 million in its last financial year.

The retail bond matures on 8 May 2020 and the minimum investment is £2000 with further purchases in increments of £100.

The offer is expected to remain open until 30 April and the bond will pay interest semi-annually, on 8 May and 8 November each year at a rate of £3.0625 per £100. Canaccord Genuity is acting as lead manager on the issue.  

According to Chief Executive Gerard Ryan,  the reason for the issue is ‘diversifying sources of funding and extending the term of debt facilities, at lower cost to provide further funding for future development of the business’.

The issuer has a long term credit rating of BB+ with a stable outlook from Fitch Ratings Limited and the bond will become rated once they are issued.

Retail Bond Expert invites users to share their thoughts regarding the perceived attractiveness of this relatively high-yielding retail bond.


Posted on 18/04/2013 18:22:57

I'm using sippdeal and Iweb is this bond available through theses brokers?

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