12th Jun

Helical Bar close offering ahead of schedule

Helical Bar Plc the property investment and development company has closed the offer on it's 6% retail bond six days early following strong demand, and raised £80m to help diversify its funding sources.

The bonds, due in 2020, have a minimum initial subscription amount of £2,000 and are available in multiples of £100 thereafter.

The seven year Sterling Bond due 2020, follows in the footsteps of other property companies who have successfully recently launched retail bonds on the Order Book of Retail Bonds (ORB) namely St Modwens, Beazley and CLS Holdings. 

Michael Slade, Chief Executive of Helical Bar plc, commented:   

“We are extremely pleased by the positive response to the launch of Helical Bar’s first retail bond.  This bond enables us to further diversify our funding sources with an entirely new source of funding whilst extending the debt maturity profile of the Group."

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