Member Article

Stobart hopes to raise £25m from retail bond

Logistics giant, Stobart Group, announced on Tuesday that it will become “the first industrial superbrand to enter the UK retail bond market.”

The FTSE 250 company, famous for its Eddie Stobart trucks, will offer a 5.5% Sterling bond at a fixed rate for six years, and expects to raise approximately £25m.

As a major investor in UK infrastructure and industry, Stobart said market conditions were ripe to issue a retail bond, which was made available from Tuesday.

The group’s Financial Officer, Ben Whawell commented: “We enter the market on the back of significant expansion of the Group, with developments in our air, biomass and estates divisions now delivering results and bringing benefits across the business.”

Investment bank Canaccord Genuity handled the offer, which is expected to remain open until 27th November, however there is a possibility that it may close earlier.

Stobart’s bonds will be listed on the London Stock Exchange’s retail bond order books, and can be bought with a minimum investment of £2,000 in multiples of £100 face value.

This was posted in Bdaily's Members' News section by Miranda Dobson .