LendInvest issues new bonds paying 6.5pc

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Alternative property lender LendInvest has issued new bonds with a target fixed rate of 6.5 per cent.

The bonds will mature in August 2027, with returns paid twice annually. The first coupon payment will be made on 8 February 2023.

They will be available to both wholesale and retail investors, with a minimum investment of £1,000 and subscriptions available in multiples of £100 thereafter.

Existing LendInvest bondholders have been invited to exchange their 5.25 per cent and 5.375 per cent bonds for the new bonds. The 5.25 per cent bonds are due to mature in 2022 and the 5.375 per cent bonds are set to mature in 2023.

Read more: How LendInvest is inflation-proofing its development loanbook

“We are pleased to be coming back to the market for a third time following our two previous oversubscribed bonds,” said Rod Lockhart, chief executive of LendInvest.

“Our loans are all secured by property and at conservative loan-to-values, making this an attractive asset class to institutional and retail investors alike.

Read more: Personal borrowing rates reach six-year high

“Backed by an unparalleled 13-year track record, LendInvest continues to demonstrate strategic progress, resilience and strong financial performance. 2021 was a landmark year for the business – becoming a public company, delivering our most profitable results to date and reaching £2.9bn funds under management.

“The UK property finance market is huge and ripe for disruption – LendInvest is well placed to lead this, transforming experiences for both borrowers and lenders through its competitive, innovative technology offering and deep understanding of the market and customer needs. ”

Retail investors can purchase the bonds from AJ Bell, Arnold Stansby & Co, Equiniti, Hargreaves Lansdown, Hedley & Co, or PrimaryBid.

The new bonds are expected to be listed on the Financial Conduct Authority’s official list and admitted to trading on the London Stock Exchange’s main market on or around 9 August 2022.

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