The bond issue, announced in its interim results last week, forms part of the European office investor’s plans to diversify sources of funding, according to a stock exchange announcement.
The bonds are expected to be issued on 11 September, and are redeemable in December 2019. The offer period will remain open until 4 September, and the bonds are expected to trade on the London Stock Exchange’s Order Book for Retail Bonds.
The bonds are targeted at retail investors, wealth managers, private client stock brokers and IFAs. Canaccord Genuity will act as manager.
The company reported a 5.6% increase in net asset value per share in the first half of the year, thanks to high retained earnings and a revaluation surplus on Spring Mews in London’s Vauxhall, where planning was secured in May for a large mixed-use scheme.
sophia.furber@estatesgazette.com
