19th Aug 2015 12:53
LONDON (Alliance News) - Buy-to-let mortgage lender Paragon Group of Companies PLC on Wednesday said it expects to raise at least GBP100 million via its upcoming bond issue.
The bonds being issued by the FTSE 250-listed company will pay a fixed interest of 6.0% per year and will mature in 2024. The bonds are being marketed to retail investors.
"We are delighted with the launch of our third retail bond, as part of our on-going funding diversification strategy and supporting the continued growth of the business," said Nigel Terrington, Paragon's chief executive, when outlining the bond issue earlier this month.
Paragon shares were up 0.4% to 412.52 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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