Primary Health Properties’ £75m bond issue will begin trading on the London Stock Exchange’s order book for retail bonds today.
The offer period for the 5.375% bonds opened on 3 July, but closed early due to a high level of demand. The bonds mature in July 2019.
Managing director Harry Hyman said: “Our debut retail bond has been a great success. We are delighted to be the first UK REIT to issue a retail bond. The extremely positive response from investors demonstrates the attractiveness of PHP and its consistent income streams, which provide stable returns. We have successfully accessed a new source of funding and diversified our range of debt finance. The success of this offering may lead the company to considering further bond offerings to retail investors in the future.”
PHP specialises in investment in purpose-built primary healthcare properties in the UK.
sophia.furber@estatesgazette.com
