Bristol law firm Osborne Clarke advised long-standing client Unite, the student accommodation specialist also based in the city, on its first retail bond issue.
The bonds, launched this week, will have an interest rate of 6.125% and will mature in 2020. They are being offered to the public and are expected to be listed on the London Stock Exchange (LSE) and admitted to trading on the LSE’s Regulate
d Market and through the Order Book for Retail Bonds.
The total amount raised will be announced at the end of the offer period.
Osborne Clarke’s head of finance practice Omar Al-Nuaimi said: “Businesses are increasingly looking for alternatives to traditional bank financing and the market has seen a number of retail bond issues over the last few months, particularly in the real estate sector.
“Bonds can be both an attractive way for businesses to raise cash and popular with private investors.
“As well as bond issues and private placements, Osborne Clarke has recently been involved in many transactions where businesses have been successful in raising funds from new and alternative funders in the lending market. These have included transactions funded by peer-to-peer lenders, insurance companies and co-operatives.”
