4th Nov 2013 12:37
LONDON (Alliance News) - International Personal Finance PLC Monday launched an offer of more 6.125% sterling bonds due in 2020, part of its effort to diversify its funding and coming after the initial issue earlier this year was oversubscribed.
The provider of unsecured loans in Eastern Europe and Mexico said the bonds have a minimum initial subscription amount of GBP2,000 and are available in multiples of GBP100 thereafter. The new issue will be consolidated with the GBP70 million in bonds issued in an over-subscribed bond offering in May. As with the earlier offer, the bonds will be available to retail investors.
"Our strategic objective of diversifying our funding is taking another step forward today. Our retail bond earlier this year was heavily oversubscribed, and re-opening this bond issue gives investors who missed out another opportunity to invest in the on-going success of IPF," Chief Executive Gerard Ryan said in a statement.
The funds raised will be used for general corporate purposes.
International Personal Finance shares were up 2.9% at 600 pence Monday afternoon.
By Steve McGrath; [email protected]; @SteveMcGrath1
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