5th Mar 2015 12:32
LONDON (Alliance News) - Intermediate Capital Group PLC has launched an offer of sterling bonds that are to pay fixed interest of 5% per annum and mature in 2023, following on from the issue of GBP115 million of retail bonds in December 2011 and September 2012.
In a statement published on Wednesday, the specialist fund manager, which provides higher yielding debt and equity to mid-sized companies and asset backed sectors, said the bonds are expected to be listed on the regulated market of the London Stock Exchange. They are expected to be eligible for the London Stock Exchange's order book for retail bonds.
The first coupon payment on the bonds is to be made in September.
The bonds have a minimum initial subscription amount of GBP2,000. They will be made available in multiples of GBP100 following the initial subscription period.
The offer period will open on March 4 and is expected to close at 1200 GMT on March 18, although the group has the right to close the offer early.
Canaccord Genuity Ltd is the lead manager on the bond issue.
Intermediate Capital Group shares were up 0.6% at 486.90 pence on Thursday.
By Samuel Agini; [email protected]; @samuelagini
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