News

4th Jun

Helical Bar aim high with launch of 6.00% retail bond

Helical Bar plc, the property investment and development company has launched a seven year  Sterling Bond due 2020, following in the footsteps of other property companies who have successfully recently launched retail bonds St Modwens, Beazley and CLS Holdings. 

The Bonds bear interest at a fixed rate of 6.00% per annum, payable semi-annually in arrears in equal instalments with a target of raising around £75m, to further diversify Helical Bar's funding sources

The Bonds have a minimum initial subscription amount of £2,000 and are available in multiples of £100 thereafter.They are available for purchase through stockbrokers from June 4th and the date on when the bonds are issued and interest begins to accrue will be 24th June 2013

The Bonds are expected to be listed on the UK Listing Authority's Official List and admitted to trading on the London Stock Exchange's regulated market and through the electronic Order Book for Retail Bonds.

Michael Slade, Chief Executive of Helical Bar plc, commented:"We are excited to be launching our début retail bond into a market which is growing as a result of strong private investor interest for bonds issued by companies with established track records. The launch of this bond will enable us to further diversify our funding sources and extends the debt maturity profile of the Group."

Numis Securities Limited is acting as Lead Manager on this issue. 

More details to follow

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